🎉 India🇮🇳: cryptocurrency exchange Coinbase officially launches banking rails for rupee transactions

🎉 India🇮🇳: cryptocurrency exchange Coinbase officially launches banking rails for rupee transactions
The initiative involves direct bank transfers in Indian rupees through the local IMPS instant payment system. and the exchange for spot and futures trading directly on Coinbase’s proprietary Advanced Trade platform.

➡️ This move marks another effort by the company to expand its presence in India following its difficult market entry in 2022 and comes after the company registered with India’s Financial Intelligence Unit in **March 2025,** giving the company a formal regulatory footing.

➡️ The company is entering a crowded yet strategically important market where Indian traders already rely on domestic platforms such as CoinDCX, CoinSwitch, ZebPay, and WazirX.

➡️ Global exchanges including Binance and KuCoin are also widely used, although they primarily rely on P2P-based cryptocurrency access rather than direct IMPS banking channels now being introduced by Coinbase.

➡️ Context: India has become a major player in the global crypto market despite regulatory obstacles, including a **30% tax** on many forms of digital asset income and a 1% withholding tax applied to certain transactions. In 2025, India ranked first in the Chainalysis “Global Crypto Adoption Index”, surpassing 150 countries. The ranking considered factors such as retail blockchain activity, usage of centralized exchanges and DeFi protocols, and overall transaction volumes, highlighting the scale of grassroots cryptocurrency adoption.

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