The Nasdaq-listed Coinbase exchange on Monday announced a major market move: the launch of Indian Rupee (INR) direct rail.
From June 1, 2026, the exchange’s Indian customers can now deposit and withdraw Rupees directly from their bank accounts via Instant Payment Service (IMPS). This is a measure aimed at eliminating the need for intermediaries and simplifying the often cumbersome process of entering the region’s crypto market.
Indians have long had to rely on peer-to-peer (P2P) markets and third-party intermediaries to fund their crypto accounts. This method can be time-consuming and potentially risky, often exposing vulnerable users to payment fraud or the sudden freezing of bank accounts by law enforcement due to suspicious funds traces from unknown counterparties. Coinbase gets around this by integrating directly with Instant Payment Services (IMPS).
Coinbase’s latest move means customers can now transfer funds to and from the Coinbase platform directly from their local bank accounts.
“India has long been one of the most important markets in the crypto market in terms of developer talent, trading activity, and widespread adoption of blockchain technology,” John O’Loren, Coinbase’s head of APAC, said in an announcement shared with CoinDesk.
According to Chainalysis data, the country ranks as one of the top countries promoting cryptocurrency adoption in the APAC market in 2025, and ranks first on the Global Cryptocurrency Adoption Index. In fact, according to consulting firm Imarc, India’s cryptocurrency market is expected to reach $3.04 billion in 2025 and $14.21 billion by 2034, growing at a CAGR of 18.66% from 2026 to 2034.
“We’re here for the long run.”
However, this release is not just for beginners. While retail traders have access to spot markets for major assets, the platform also introduces perpetual futures contracts.
For “pro” users, the “Coinbase Advanced” suite offers institutional-grade tools such as TradingView integration and a sophisticated API. In particular, Coinbase has built a local INR order book to allow users to have dedicated liquidity at home without having to trade against global prices.
The goal is to bring the same platform trusted by global institutions to India’s large retail base, Coinbase said.
Regulation has always been an important factor for cryptocurrencies in India.
Coinbase first opened its platform to Indians in 2022, but it hit a roadblock within days when UPI operator National Payments Corporation of India (NPCI) rejected Coinbase’s then-initiated UPI support, saying it was unaware of such an arrangement involving crypto exchanges.
Coinbase is now tackling regulatory challenges head-on by registering with the Financial Intelligence Unit (FIU-IND), the central state agency responsible for analyzing and disseminating information about suspicious financial transactions.
The FIU registration is a clear signal that the exchange seeks a long-term presence in the world’s fastest growing major economy and most populous country.
Our newest products build on years of quiet foundational work. Coinbase is already an investor in local exchange CoinDCX, funneling more than $1 million to Indian developers through its “Base” layer 2 network.
“With the launch of Direct INR Rail, Coinbase will be fully accessible to retail traders in India using the same platform trusted by institutions and traders around the world. We are registered with FIU-IND and are here for the long term,” O’Lauren said.
