Coinbase Launches Direct INR Support for Indian Users
Coinbase has officially launched direct Indian Rupee (INR) support for users in India, marking a significant step in its expansion strategy in one of the world's fastest-growing digital asset markets.
The development allows Indian investors to deposit and withdraw funds directly in INR through the Immediate Payment Service (IMPS), eliminating the need for peer-to-peer (P2P) arrangements or third-party intermediaries that many crypto users have relied on in recent years.
'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. We've been paying attention for a while,' said John O'Loghlen, Regional Managing Director APAC.
The introduction of INR support brings Coinbase closer to competing with domestic cryptocurrency exchanges by offering a direct banking channel for Indian users.