Overview
- Coinbase activated direct rupee deposits and withdrawals through IMPS, the country’s real-time interbank transfer system, to let users move money between their banks and the exchange without peer-to-peer intermediaries.
- The company rolled out rupee-denominated order books, spot markets and perpetual futures for eligible Indian users, and added Coinbase Advanced tools such as institutional APIs and TradingView charting.
- Coinbase says the product launch builds on its Financial Intelligence Unit registration and that INR rails will be gradually enabled for existing users over the coming weeks.
- Early post-launch numbers reported by a single outlet cite big jumps in registrations and INR deposits after June 1, 2026, but those figures come from company-supplied metrics and remain uncorroborated.
- The move follows Coinbase’s 2022 UPI setback and a phased return to India and comes as the market faces high taxes of 30% on gains and 1% TDS plus strong domestic competitors that could limit near-term volume.