Coinbase has expanded its India operations by enabling direct Indian rupee deposits and withdrawals through the Immediate Payment Service (IMPS), giving customers a bank-to-crypto payment route as the US exchange rebuilds its presence in the country.
According to a Coinbase blog post published May 31, Indian customers can use IMPS to move rupees between bank accounts and Coinbase. Users also gain access to spot markets, perpetual futures and the Advanced Trade interface on one platform.
Coinbase Deepens its India Push
The rollout represents Coinbase’s most significant India expansion since its difficult 2022 launch. The company initially enabled rupee deposits through the Unified Payments Interface (UPI), but the service was suspended within days after payment authorities distanced themselves from crypto transactions using the network.
Coinbase returned with a clearer regulatory position after registering with India’s Financial Intelligence Unit in March 2025. According to the company, the registration enables it to provide crypto trading services under India’s Anti-Money Laundering framework.
Coinbase says it has also created ‘local INR order books’ to concentrate domestic liquidity while connecting traders with its global exchange.
India Remains a Major Crypto Market
Coinbase is competing with domestic platforms including CoinDCX, CoinSwitch, ZebPay and WazirX. Global exchanges such as Binance and KuCoin are also widely used but have largely relied on crypto-only or peer-to-peer rupee access instead of direct IMPS bank rails.
India remains challenging from a tax perspective. Most digital asset gains face a 30% tax, while certain transactions attract 1% tax deducted at source.
Nevertheless, adoption remains substantial. According to Chainalysis’ 2025 Global Crypto Adoption Index, India ranked first among more than 150 countries, based on measures including centralized exchange activity, retail on-chain usage, decentralized finance participation and transaction volumes.
Final Thoughts
Direct IMPS connectivity reduces friction for Indian customers moving between rupee and crypto markets. Combined with local INR liquidity, it gives Coinbase another opportunity to compete for India’s large retail crypto audience.
The expansion also shows how global exchanges are adapting to India’s regulated but tax-heavy digital asset market.
Also Read: Why RBI Prefers CBDC Over Stablecoins: India’s Digital Rupee
Disclaimer : Crypto News India does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
