Nasdaq-listed exchange Coinbase announced a major market move on Monday: the launch of direct rails for the Indian Rupee (INR).
Starting June 1, 2026, Indian customers of the exchange can deposit and withdraw rupees directly from their bank accounts through the Immediate Payment Service (IMPS), a measure designed to eliminate the need for intermediaries and simplify the often tedious process of entering the crypto market in the region.
For a long time, Indians had to rely on Peer-to-Peer (P2P) marketplaces or third-party intermediaries to fund their crypto accounts. This method can be slow and sometimes risky, often leaving users vulnerable to payment scams or having their bank accounts suddenly frozen by law enforcement due to suspicious funds trails from unknown counterparties. Coinbase gets around this by integrating directly with the Immediate Payment Service (IMPS).
Coinbase’s latest initiative means its customers can transfer funds from their local bank accounts directly to the Coinbase platform and vice versa.
“India has long been one of the most important markets in crypto, in terms of developer talent, business activity and broader adoption of blockchain technology,” said John O’Loghlen, head of APAC at Coinbase, in the announcement shared with CoinDesk.
The country was ranked among the top countries driving crypto adoption in the APAC market in 2025 and ranked first in the Global Crypto Adoption Index, according to data from Chainalysis. In fact, according to consulting firm Imarc, the Indian cryptocurrency market reached $3.04 billion in 2025 and is expected to reach $14.21 billion by 2034, growing at 18.66% over the period 2026-2034.
“Here for the long term”
The launch is not just for beginners, however. While retail traders can access spot markets for major assets, the platform also introduces perpetual futures contracts.
For “professionals,” the “Coinbase Advanced” suite will offer institutional-grade tools, including TradingView integration and sophisticated APIs. Notably, by creating local INR order books, Coinbase ensures that users do not trade against global prices but have dedicated liquidity directly at home.
The goal is to provide India’s huge retail base with the same platform that global institutions trust, Coinbase said.
Regulation has always been the elephant in the room for crypto in India.
Coinbase first opened its platform to Indians in 2022, but hit a roadblock days later when UPI operator National Payments Corporation of India (NPCI) rejected Coinbase’s then launch of UPI support, saying it was unaware of any such deal involving a crypto exchange.
Coinbase is tackling regulatory challenges head-on this time by registering with the Financial Intelligence Unit (CRF-IND), the central national agency responsible for analyzing and disseminating information on suspicious financial transactions.
The FIU registration is a clear signal that the exchange is seeking a long-term presence in the world’s fastest-growing large economy and most populous country.
The latest offering builds on years of quiet groundwork. Coinbase is already an investor in local exchange CoinDCX and has funneled over $1 million to Indian developers through its “Base” Layer 2 network.
“With the launch of Direct INR Rails, we are making Coinbase fully accessible to Indian retail traders, with the same platform trusted by institutions and traders around the world. We are FIU-IND registered and here for the long term,” O’Loghlen said.
