Coinbase Launches Direct INR Deposits & Withdrawals For Indian Crypto Traders

Mumbai: Global cryptocurrency exchange Coinbase on Monday launchedfull-fledged trading services for retail investors in India withdirect Indian Rupee (INR) support, allowing users to deposit and withdraw funds directly through their bank accounts.

“Indian customers can now deposit and withdraw Indian currency directly from their bank accounts via IMPS, without reliance on P2P rails or intermediaries,” said the Nasdaq listed Coinbase.

Customers 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.

"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," said John O'Loghlen, Head of APAC, Coinbase.

Loghlen said that 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.

Existing Coinbase users will see INR rails rolled out over the coming weeks. New users can create an account at coinbase.com

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, said the company.