Coinbase Adds Direct INR Deposits and Withdrawals via IMPS

Coinbase opened direct Indian rupee deposits and withdrawals through the Immediate Payment Service (IMPS) on May 31, 2025. The change allows retail customers to move funds between Indian bank accounts and Coinbase instantly.

Indian users will see local INR order books on the platform and can trade on spot markets and perpetual futures while retaining access to Coinbase’s global exchange liquidity.

The company expanded its Coinbase Advanced offering in India, adding application programming interfaces, multiple order types, TradingView charts and Websocket streaming for live order-book updates.

Coinbase launched retail services in India in April 2022 and initially permitted purchases via the Unified Payments Interface (UPI). The exchange suspended UPI payments after the National Payments Corporation of India said it was not aware of any crypto exchange using UPI.

The firm registered with India’s Financial Intelligence Unit (FIU-IND) on March 11, 2025. Coinbase noted that registration cleared the way for direct INR support.

In information for Indian customers, Coinbase listed regulatory and operational safeguards, including FIU-IND registration, compliance with Indian tax obligations, quarterly audited financials, cold storage for custody and a crime insurance policy. The company cited its Nasdaq listing and membership in major U.S. market indexes.

Coinbase has increased its presence in India through an investment in local exchange CoinDCX, developer support for projects on Base and more than $1 million in hackathons, grants and fellowships. The company reported that over 4,000 builders in India have created projects on Base and roughly 150 of those projects have become startups.

India imposes a 30 percent tax on digital asset gains and requires a 1 percent tax deducted at source on certain transfers. Exchanges serving Indian customers must meet anti-money-laundering obligations set by FIU-IND.

Chainalysis ranked India first in its 2025 Global Crypto Adoption Index, citing broad use of centralized exchanges, decentralized finance and retail activity.

In its May 31 announcement, Coinbase wrote, “Today, we’re taking the next step: making Coinbase fully accessible to Indian retail traders with direct INR support.”