Coinbase Launches INR Trading in India to Tap $3 Billion Crypto Market

Coinbase enabled UPI-based rupee transactions in India on April 7, 2022, but suspended the service within three days amid a dispute over access to the payments system. It returned to the market after securing registration with India’s Financial Intelligence Unit (FIU-IND) on March 11, 2025. India’s crypto market was valued at about $3.04 billion in 2025, making compliant banking rails critical to attracting retail users and liquidity.

Coinbase announced the launch of Indian rupee services on May 31, 2026, allowing customers to deposit and withdraw INR directly from bank accounts through the Immediate Payment Service (IMPS) without relying on peer-to-peer intermediaries. The platform also introduced spot trading, perpetual contracts for major crypto assets and a local INR order book, while retaining liquidity from its global exchange. The rollout formally expands Coinbase’s push into India’s retail trading market.