TL;DR:
Coinbase announced the activation of direct bank transfers in Indian rupees through the IMPS instant payment network, allowing local users to move funds between their bank accounts and the platform to trade on spot markets, perpetual futures and the Advanced Trade interface.
This is one of the most significant moves by the company in India since its troubled debut in 2022, aimed at strengthening its position in one of the fastest-growing crypto markets in the world.
Coinbase is now live in India with direct INR rails.
Users across India can now seamlessly access global liquidity and institutional-grade execution at the lowest total cost of trading in the market.
Making access to the future of finance easier than ever. pic.twitter.com/39yuijyibQ
— Coinbase
(@coinbase) June 1, 2026
Coinbase‘s initial attempt in India collapsed just days after its 2022 launch, when the country’s payment authorities publicly distanced themselves from the use of cryptocurrencies on the UPI network and partners stopped offering that channel to the platform. The turning point came in March 2025, when the company completed its registration with India’s Financial Intelligence Unit, the body that oversees anti-money laundering compliance in the financial sector. That registration grants formal regulatory backing under the country’s AML framework and allows the company to offer cryptocurrency trading services in a structured manner.
With the IMPS channel now operational, Coinbase says it has built local order books denominated in rupees to concentrate domestic liquidity, while also offering access to its international exchange. The proposition aims to set it apart from competitors such as Binance and KuCoin, which in India have relied primarily on crypto-to-crypto access or peer-to-peer channels, without this type of direct banking integration.
The territory Coinbase is trying to capture presents multiple obstacles. Local platforms such as CoinDCX, CoinSwitch, ZebPay and WazirX already have a strong presence among Indian traders. On top of that, a demanding tax framework applies: a 30% rate on digital asset gains and a 1% tax deducted at source on certain transactions, measures that have curbed part of the sector’s growth.
Chainalysis ranked India first in its Global Crypto Adoption Index 2025, evaluating factors such as retail onchain activity, use of centralized exchanges and decentralized finance protocols, and transaction volumes.
