Coinbase has launched direct Indian Rupee (INR) deposit and withdrawal services for customers in India. With the new service, Indian users can now deposit and withdraw INR directly from their bank accounts via IMPS, eliminating the need for peer-to-peer rails or intermediaries.
New Features for Indian Traders
Customers will have access to spot trading across a range of assets, as well as perpetual futures contracts covering major cryptocurrencies. Coinbase has built local INR order books to provide dedicated liquidity for Indian users while maintaining access to its global exchange.
John O'Loghlen, Head of APAC at Coinbase, stated: "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."
Advanced Trading Tools
Coinbase's Advanced platform offers tools designed for experienced traders, including APIs, WebSocket order book streaming, multiple order types, and integrated TradingView charts. The company also charges no fees for INR deposits and provides access to global liquidity.
Security Measures
The crypto exchange highlighted its security measures, noting that most customer digital assets are held in cold storage and that it maintains a dedicated crime insurance policy. Coinbase also publishes audited financial results every quarter.
Investment in Indian Ecosystem
The launch builds on several years of investment in India. 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 via hackathons, direct grants, and fellowships. More than 4,000 builders in India have built on Base, with around 150 projects growing into startups.
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.
