Key facts
- Coinbase relaunched in India with direct INR deposit and withdrawal capabilities.
- The new system uses the IMPS network for transfers between local bank accounts and the exchange.
- Coinbase has registered with FIU-IND, signaling a long-term commitment to the Indian market.
- The exchange plans to offer spot trading and perpetual futures to eligible users.
- New INR order books allow direct trading in rupees without stablecoin swaps.
India is a significant market for cryptocurrency adoption, consistently ranking high in global adoption indices. Coinbase's re-entry with direct INR payment rails and advanced trading features aims to enhance accessibility and competitiveness. This move could offer a safer alternative for local users compared to previous peer-to-peer methods, which carried risks associated with third-party fund handling.