Cryptocurrency exchange Coinbase has rolled out direct Indian rupee (INR) trading services in India, enabling customers to buy and sell digital assets without relying on peer-to-peer transactions or external payment channels. The move is expected to make crypto trading more convenient for Indian users and strengthen Coinbase’s footprint in the country’s growing digital asset market.
Under the new system, customers can deposit and withdraw funds in rupees using the Immediate Payment Service (IMPS). The integration of local payment infrastructure is aimed at providing a smoother and more accessible trading experience for users across India.
The development represents another milestone in Coinbase’s return to the Indian market. The company had paused operations in the country in 2023 due to regulatory and payment-related hurdles. After securing registration with India’s Financial Intelligence Unit (FIU), Coinbase gradually resumed services and has now expanded its offerings with direct INR support.
Indian users will be able to access spot trading in a variety of cryptocurrencies, along with perpetual futures linked to major digital assets. Coinbase has also launched dedicated rupee-based order books, allowing traders to transact directly in INR while benefiting from the exchange’s global liquidity network.
The company views India as a strategically important market, citing the country’s strong technology ecosystem, growing blockchain community and rising interest in digital assets. Coinbase executives have repeatedly highlighted India’s potential to play a significant role in the future development of the global crypto industry.
The expansion comes even as India’s crypto sector operates under a stringent tax framework. Profits from virtual digital assets are subject to a 30% tax, and exchanges must comply with anti-money laundering requirements. Despite these regulations, interest in cryptocurrencies continues to grow, although a comprehensive legal framework for the sector is still awaited.
