Coinbase Re-Enters India with Direct Rupee Trading Rails

Coinbase has launched direct Indian rupee deposit and withdrawal rails through India’s Immediate Payment Service, allowing users to bypass peer-to-peer intermediaries.

The exchange rolled out dedicated INR order books for direct local currency trading, alongside perpetual futures for major cryptocurrencies.

India ranks first globally in crypto adoption for the third consecutive year, with the market projected to reach $14.21 billion by 2034.

This marks a reversal from Coinbase’s troubled 2022 launch when it suspended UPI payments following informal pressure from the Reserve Bank of India. The exchange exited India entirely before returning in December 2025 with Financial Intelligence Unit registration.

Coinbase APAC Regional Managing Director John O'Loghlen said the firm is “here for the long term” and has “invested meaningfully in the Indian ecosystem.”