Coinbase launches Indian rupee rails with perps access in expansion push
coinbase-launches-indian-rupee-rails-with-perps-access-in-expansion-push

Coinbase has launched direct rails for Indian rupees (INR) for users in India, as the global crypto exchange continues expanding in Asia.

In a statement shared with The Block on Monday, the exchange said Indian users can now deposit and withdraw rupees directly from their bank accounts through the Immediate Payment Service, without needing to rely on peer-to-peer rails or intermediaries.

The Nasdaq-listed company also said it has established INR order books to provide dedicated liquidity for users in the country.

In addition to spot trading, Coinbase offers perpetual futures contracts covering major crypto assets for Indian customers, per the statement. The exchange also provides professional tools through Coinbase Advanced for clients seeking more advanced support, including institutional-grade APIs and WebSocket order book streaming.

The INR rail launch follows Coinbase's successful registration with the Financial Intelligence Unit (FIU-IND), a government agency responsible for monitoring suspicious financial transactions, combating money laundering, and overseeing crypto compliance.

"India has long been one of the most important markets in crypto, in terms of developer talent, trading activity, and the broader adoption of blockchain technology," John O'Loghlen, head of APAC at Coinbase, said in the statement. "We're registered with FIU-IND and here for the long term."

Indian presence

Coinbase has long sought to expand in India. In December 2025, it reportedly reopened its app and resumed onboarding users in the country after more than two years, returning to a market it had previously exited due to regulatory hurdles.

The company has also invested in CoinDCX, a major crypto exchange in the country, and said it has invested over $1 million in the local builder community through Base, the Ethereum Layer 2 network incubated by Coinbase.

"More than 4,000 builders in India have built on Base, with around 150 projects growing into startups," said Coinbase.

India continues to see vibrant crypto activity. It ranked first in global crypto adoption for the third consecutive year, ahead of the U.S., Pakistan, the Philippines and Brazil, according to an October report from TRM Labs.

Coinbase's Nasdaq-listed shares closed up 3.72% at $189.03 on Friday, though the stock remains down 30.7% over the past six months.