Coinbase launches rupee bank rails in India after FIU nod
Coinbase has switched on direct rupee bank transfers in India via IMPS, letting users move funds between local bank accounts and the exchange for spot and futures trading.
Coinbase has enabled direct rupee bank rails in India, making it easier for local customers to move money between bank accounts and crypto markets on the exchange as the company deepens its push into one of the world’s fastest-growing digital asset markets.
Indian users can now deposit and withdraw Indian rupees via the Immediate Payment Service (IMPS) instant payments network and access spot markets, perpetual futures and the company’s Advanced Trade interface through a single platform, according to a company blog post published Sunday.
The move marks Coinbase’s latest push to expand its presence in India since a troubled 2022 debut and follows the company’s registration with India’s Financial Intelligence Unit, giving it a formal regulatory footing in the market.