Coinbase, a major cryptocurrency exchange, has temporarily halted Indian rupee (INR) withdrawals for its users in India due to an outage at one of its banking partners. The disruption is not limited to Coinbase, as the banking partner's payouts are affected for all clients. The company assured users that their funds remain safe and that INR deposits, including those made through the Unified Payments Interface (UPI), and bank account linking are still operational.
The issue was first reported on November 9, 2026, with initial notices indicating potential difficulties in withdrawing INR, linking new bank accounts, and using UPI. However, subsequent updates confirmed that only INR withdrawals were impacted, while deposits, UPI transactions, and bank account linking continued to function normally. Coinbase advised users against initiating new INR withdrawal requests during this period, as transactions could fail or remain pending until the issue is resolved.
Coinbase expanded its services in India in 2026, introducing direct INR deposits and withdrawals through the Immediate Payment Service (IMPS) channel. This expansion also provided Indian users with access to spot trading across various cryptocurrency assets and perpetual futures contracts. The company is working around the clock with its banking partner to restore withdrawal services as soon as possible.