Major Crypto Exchange Coinbase Enables Rupee Bank Rails in India

Coinbase has enabled direct rupee bank rails in India, allowing customers to deposit and withdraw Indian rupees via the Immediate Payment Service (IMPS) network and to access spot markets, perpetual futures and the Advanced Trade interface on a single platform.

The move follows Coinbase's registration with India’s Financial Intelligence Unit in March 2025, which the company says gives it a formal regulatory footing under the country’s anti-money-laundering framework. The launch recalls an earlier 2022 effort when Coinbase briefly supported Unified Payments Interface (UPI)-based deposits before payments authorities distanced themselves and partners stopped enabling UPI for the exchange.

Coinbase is entering a crowded domestic market served by platforms such as CoinDCX, CoinSwitch, ZebPay and WazirX, while global exchanges like Binance and KuCoin have largely relied on crypto-only or peer-to-peer rupee access rather than direct IMPS bank rails.

India

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