Coinbase Expands Presence in Indian Crypto Market with Direct INR Deposits

Coinbase, a leading cryptocurrency exchange, has made a significant move into India's growing crypto market. By integrating with the Immediate Payment Service (IMPS), Coinbase now allows Indian customers to deposit and withdraw rupees directly from their bank accounts.

This development is expected to simplify the process of buying and selling cryptocurrencies for Indian users, who have traditionally relied on Peer-to-Peer (P2P) markets or third-party facilitators. The integration with IMPS reduces the need for middlemen and minimizes the risk of payment scams or account freezing.

Coinbase's move is part of its long-term strategy to establish a strong presence in India, which has been ranked as one of the top countries driving crypto adoption in the APAC market. The company aims to bring its trusted platform to India's massive retail base and provide institutional-grade tools for professional traders.