Coinbase launches direct INR deposits and withdrawals in India

Coinbase has launched direct INR deposit and withdraw services for customers in India. With the new services, Indian customers will now be able to deposit and withdraw Indian currency directly from their bank accounts via IMPS, without reliance on P2P rails or intermediaries. Further, customers will have access to spot trading across a range of assets, alongside perpetual futures contracts covering major crypto assets. Coinbase has built local INR order books that provide dedicated liquidity for Indian customers, with continued access to its global exchange.


John O'Loghlen, Head of APAC, Coinbase said: “India has long been one of the most important markets in crypto, in terms of developer talent, trading activity, and the broader adoption of blockchain technology. With the launch of direct INR rails, we're making Coinbase fully accessible to Indian retail traders, with the same platform trusted by institutions and traders around the world. We're registered with FIU-IND and here for the long term.”


Coinbase said its Advanced platform offers tools aimed at experienced traders, including APIs, WebSocket order book streaming, multiple order types and integrated TradingView charts. The company also said it charges no fees for INR deposits and offers access to global liquidity.


The crypto exchange also highlighted its security measures, saying that most customer digital assets are held in cold storage and that it maintains a dedicated crime insurance policy. Coinbase also noted that it publishes audited financial results every quarter.


The launch builds on several years of investment in the Indian ecosystem. Coinbase is an investor in CoinDCX, one of India's leading crypto exchanges. Through Base, Coinbase's Ethereum Layer 2 network, the company has invested over $1 million in the Indian builder community through hackathons, direct grants, and fellowships. More than 4,000 builders in India have built on Base, with around 150 projects growing into startups.


According to Coinbase, more than 4,000 builders in India have created projects on Base, with around 150 of those projects growing into startups. The company said it has invested more than $1 million in the Indian developer community through hackathons, grants and fellowship programs.


Coinbase said direct INR rails will be rolled out to existing users over the coming weeks, while new users can sign up through the company's website.