Key Insights:
- Coinbase news: users in India can now add and withdraw rupees directly from their bank accounts.
- The crypto exchange has introduced INR trading pairs, alongside access to futures trading.
- The move comes as Coinbase continues to rebuild its presence in India.
Crypto exchange Coinbase news shows an open direct INR payment service for users in India, allowing bank deposits and withdrawals without third-party routes. The move also gives customers access to spot trading, perpetual futures, and advanced trading tools as the exchange continues its return to the Indian market.
Coinbase News: Crypto Exchange Opens INR Deposits and Withdrawals
Coinbase opens direct INR payment services for customers in India, giving users a simpler way to move money in and out of the exchange. The company said Indian customers can now deposit and withdraw Indian rupees directly through the Immediate Payment Service (IMPS).
Until now, many traders have depended on peer-to-peer methods or other payment channels to fund their accounts. With the new setup, users can transfer money directly from their bank accounts without going through extra steps.
Per the Coinbase news, alongside the payment option, Coinbase has introduced INR order books for customers in the country. This means traders can buy and sell digital assets using their local currency on the platform. The exchange is also offering access to spot trading and perpetual futures contracts tied to major cryptocurrencies.
Users looking for more advanced features can use Coinbase Advanced, which includes trading tools often used by professional market participants. The announcement follows Coinbase’s registration with India’s Financial Intelligence Unit (FIU-IND), the agency responsible for monitoring financial transactions and helping enforce anti-money laundering rules.
John O’Loghlen, Head of APAC at Coinbase, said India remains an important market because of its strong developer community and growing use of blockchain technology. The company added that it complies with Indian tax requirements and intends to continue operating within the country’s regulatory framework.
India Remains Important to Coinbase and Crypto Exchanges
India has been on Coinbase’s radar for several years. The company has invested in CoinDCX, one of the country’s best-known crypto exchanges. It has also spent more than $1 million supporting local blockchain projects through Base, Coinbase’s Ethereum Layer-2 network.
According to the Coinbase news, more than 4,000 builders in India have worked on projects using Base. Around 150 of those projects later became startups. Support has also come through grants, hackathons, fellowships, and programs aimed at helping founders develop their ideas.
The latest announcement comes months after reports that Coinbase resumed onboarding users in India following a lengthy absence from the market. Notably, the exchange had previously faced challenges linked to the country’s changing regulatory environment.
Since returning, the company has gradually increased its activities and partnerships across the local crypto sector. For Coinbase, India offers access to one of the largest groups of developers and crypto users worldwide.
Crypto Activity Continues Across India
India remains one of the busiest crypto markets despite regulatory uncertainty over the years. Data cited by Coinbase showed the country ranked first globally for crypto adoption for the third straight year.
The ranking placed India ahead of the United States, Pakistan, the Philippines, and Brazil. That level of activity has continued to attract attention from both local and international crypto firms.
Per Coinbase’s announcement, the launch of direct INR payments removes a common challenge for users who want to quickly fund trading accounts and withdraw funds back to their bank accounts.
It also gives Coinbase another way to compete in a market where several exchanges are already fighting for users. Meanwhile, Coinbase shares finished Friday’s trading session up 3.72% at $189.03. Even with that gain, the stock remains down more than 30% over the last six months.
For Indian customers, the biggest change is straightforward. They can now move rupees directly between their bank accounts and Coinbase while accessing the exchange’s trading products from the same platform.
