Coinbase clears FIU hurdle, reenters India
Coinbase has officially relaunched its services in India, establishing direct Indian rupee (INR) banking rails and securing registration with the country’s Financial Intelligence Unit (FIU). The company’s renewed push comes after it exited the market in 2022 following regulatory complications around payment methods. In March 2025, Coinbase completed its FIU registration, a move that allows it to operate under India’s Anti-Money-Laundering (AML) framework and offer crypto trading services legally to Indian residents.
The launch of INR rails on June 1, 2026, marks a significant milestone for Coinbase’s ambitions in the world’s most populous country. Previously, Coinbase had attempted to support Unified Payments Interface (UPI)-based rupee deposits, but that effort was halted within days due to objections from the National Payments Corporation of India (NPCI). Now, with FIU registration in place and a new approach to payments, Coinbase is taking another shot at tapping into India’s rapidly expanding crypto market.
Coinbase’s FIU registration was finalized in March 2025, following its initial market exit in 2022.
Direct rupee rails sidestep intermediaries
This time, Coinbase has integrated with the Immediate Payment Service (IMPS), enabling Indian users to deposit and withdraw rupees directly from their bank accounts. IMPS is an instant interbank electronic funds transfer system widely used across India. By leveraging IMPS rather than UPI or third-party intermediaries, Coinbase aims to provide faster and more reliable fiat on-ramps and off-ramps for its customers.
As a result, Indian users can move funds between their bank accounts and Coinbase without relying on stablecoins or peer-to-peer workarounds—a limitation that previously hampered global exchanges such as Binance and KuCoin in the Indian market.
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New rupee odrer books target locals
Coinbase has also established dedicated INR order books for its spot markets. This means traders in India can buy and sell cryptocurrencies using rupees directly, rather than converting through USDT or other intermediary assets. The new order books are designed to provide localized liquidity tailored specifically for Indian users—a strategic shift from previous models that often left domestic traders facing thin volumes or unfavorable rates.
On paper, this should make trading smoother for locals; but actual liquidity depth will be tested as volumes grow.
TradingView tools come to Indian traders
Coinbase is rolling out its Advanced Trade interface for Indian customers alongside the new INR rails. This platform offers institutional-grade tools including integration with TradingView—an industry-standard charting service—and sophisticated APIs for algorithmic trading. Per coindesk.com, these upgrades are part of a broader strategy to serve both retail investors and more sophisticated institutional clients in India.
Additionally, perpetual futures contracts covering major cryptocurrencies are now available to Indian users via Coinbase’s platform. This opens up access to leveraged trading products that were previously limited or unavailable through compliant channels in India. The expansion comes as the local crypto sector continues to mature: according to Imarc data cited by multiple sources, India’s cryptocurrency market reached $3.04 billion in 2025 and is projected to climb to $14.21 billion by 2034—an annual growth rate of 18.66% over the coming years.
Why it matters: practical impact for Indian crypto investors
For everyday investors in India, direct IMPS integration means faster deposits and withdrawals without extra conversion steps or hidden fees. It also potentially lowers barriers for first-time users who may have been put off by complex onboarding processes or unreliable payment options seen on foreign exchanges before this launch.
However, regulatory headwinds remain significant. The government imposes a 30% tax on many digital asset gains and requires a 1% tax deducted at source on certain transactions—measures that could dampen speculative activity despite easier access. Domestic platforms like CoinDCX and WazirX continue to compete aggressively with international players such as Binance and KuCoin, but most global exchanges have so far relied on crypto-only or peer-to-peer rupee access rather than direct bank transfers.
India has ranked as the global leader in crypto adoption for three consecutive years according to Chainalysis’ Global Crypto Adoption Index (2025), highlighting both the scale of opportunity and the challenges ahead for Coinbase’s expansion strategy.
Next milestones
If Coinbase’s direct INR rails, launched on June 1, 2026, maintain uninterrupted access via IMPS and avoid regulatory pushback as seen with the 2022 UPI suspension, Indian users will immediately continue to deposit and withdraw rupees directly from their bank accounts for crypto trading; however, any intervention by the National Payments Corporation of India or other authorities remains unclear and could halt these services again.
