Coinbase has opened direct Indian rupee deposits and withdrawals for retail traders in India, the company confirmed this week. The move gives users a direct bank-to-exchange channel, eliminating third-party payment gateways. It follows Coinbase's registration with India's Financial Intelligence Unit, a prerequisite for offering fiat services in the country. The new service is available immediately for all KYC-verified users.
Direct INR on-ramp goes live
Indian users can now deposit and withdraw INR directly on Coinbase. Previously, users had to rely on third-party processors or peer-to-peer trades, which added fees and delays. The direct channel simplifies the experience, making it easier for new entrants. Coinbase says the service is open to all retail users who have completed identity verification. The launch is a significant step in a market where regulatory uncertainty has kept many global exchanges at arm's length.
IMPS joins the mix
The exchange integrated IMPS for faster transfers. IMPS is a real-time payment system widely used in India, offering near-instant settlement. By adding it, Coinbase matches the speed of local competitors. The upgrade means deposits and withdrawals clear in seconds, not hours — a practical improvement for active traders. It's a feature Indian users have long asked for.
Product expansion for Indian users
Alongside the payment upgrades, Coinbase expanded its trading offerings for Indian retail traders. Spot and futures trading, plus advanced tools like limit orders, stop-losses, and margin trading, are now available. The combination of a compliant fiat on-ramp and a full product suite positions Coinbase to compete more aggressively in India's retail crypto market. The FIU registration was the regulatory foundation for these services. The advanced tools cater to both newcomers and experienced traders looking for more control.
The next challenge is sustaining compliance as Indian regulators tighten oversight. The FIU registration is a strong start, but the landscape remains fluid. For now, Indian users have a direct path into crypto — and Coinbase has a deeper foothold in one of the world's largest retail markets.
