Coinbase launches rupee transfers in India
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- Coinbase launched rupee‑denominated deposit and withdrawal services in India after receiving a nod from the Financial Intelligence Unit (FIU).
- Coinbase now enables Indian users to move funds directly between bank accounts and its platform via IMPS, supporting spot trading, perpetual futures, and its Advanced Trade suite.
- Coinbase built local INR order books to provide concentrated domestic liquidity while giving users access to its global exchange.
- Chainalysis ranked India first in its 2025 Global Crypto Adoption Index, citing high retail on‑chain activity and extensive use of centralized exchanges and DeFi protocols.
- India imposes a 30% tax on many digital‑asset gains and a 1% tax deducted at source on certain crypto transactions, creating policy headwinds for exchanges.
Why it matters: Indian crypto traders gain instant bank‑crypto access, while exchanges benefit from deeper liquidity; the 30% gains tax still squeezes profit margins, pushing users toward compliant platforms like Coinbase.
