Coinbase Launches Direct INR Deposits in India

Coinbase launched direct Indian Rupee (INR) deposit and withdrawal services in India on 1 June 2026. Indian customers can use bank accounts and the Immediate Payment Service (IMPS) for INR transfers without peer-to-peer rails or intermediaries.

Coinbase and Indian Market Access

Coinbase is a United States-based cryptocurrency exchange founded in 2012. The platform now offers spot trading and perpetual futures contracts for major crypto assets to users in India. Coinbase also maintains local INR order books and access to its global exchange for broader liquidity.

Regulatory and Tax Framework

Coinbase is registered with India’s Financial Intelligence Unit (FIU-IND). The company complies with Indian taxation rules for virtual digital asset transactions, including tax deducted at source (TDS). In India, virtual digital assets are covered under the Income-tax Act, 1961, and TDS applies to specified crypto transfers.

Previous India Operations

Coinbase first launched services in India in 2022 and later paused operations after a short period. The company re-entered the Indian market in December 2025 with crypto-only trading before the 2026 INR launch.

Important Facts for Exams

• IMPS is a real-time interbank electronic fund transfer system in India.
• FIU-IND functions under the Ministry of Finance and handles financial intelligence related to money laundering and related offences.
• Tax deducted at source on virtual digital asset transfers was introduced in India through the Union Budget 2022-23 framework.
• Base is Coinbase’s Ethereum Layer 2 network for on-chain applications and developer projects.

Developer Ecosystem

Coinbase has invested more than 1 million US dollars in the Indian developer community through hackathons, grants, and fellowship programmes. More than 4,000 builders have created projects on the Base network.