Coinbase launches INR rails and perps access for India!

Coinbase has gone live with direct Indian rupee (INR) rails for users in India, allowing deposits and withdrawals straight from bank accounts via the Immediate Payment Service — no peer-to-peer intermediaries required. The exchange has also established dedicated INR order books to support local liquidity, and is offering perpetual futures contracts on major crypto assets alongside professional-grade tools through Coinbase Advanced.

The launch follows Coinbase's registration with India's Financial Intelligence Unit (FIU-IND), clearing the compliance hurdle that had previously forced the exchange out of the market. John O'Loghlen, Coinbase's head of APAC, called India "one of the most important markets in crypto" in terms of developer talent, trading activity, and blockchain adoption, adding that the company is "here for the long term."

The move deepens a broader India strategy that includes a stake in local exchange CoinDCX and over $1 million invested in the Indian builder community through Base, Coinbase's Ethereum Layer 2. More than 4,000 Indian developers have built on Base, with roughly 150 projects scaling into startups. India ranked first in global crypto adoption for the third consecutive year, per a TRM Labs report from October.