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.
