Coinbase Launches Rupee Trading in India

U.S.-based cryptocurrency exchange Coinbase has officially expanded its services in India by allowing users to deposit, withdraw, and trade using the Indian rupee. This financial gateway operates via the Immediate Payment Service (IMPS) channel, enabling Indian customers to access spot trading and perpetual futures contracts for major crypto assets.

This move marks a major comeback for the platform, which had halted its Indian operations in 2023 before resuming crypto-to-crypto trading last year after registering with the country’s Financial Intelligence Unit (FIU). John O’Loghlen, Coinbase’s regional managing director for Asia Pacific, highlighted India’s strategic importance, citing its abundance of developer talent, high trading volume, and widespread blockchain adoption.

While India enforces strict anti-money laundering compliance and imposes a hefty 30% tax on crypto capital gains—one of the steepest rates globally—the government has yet to establish a comprehensive regulatory framework for the digital asset class.

Pic courtesy: google/ images are subject to copyright