Coinbase said it will let customers in India deposit and withdraw rupees directly from bank accounts through the Immediate Payment Service (IMPS) from June 1, 2026.

The exchange will also offer spot trading and perpetual futures. Coinbase Advanced will include TradingView integration and application programming interfaces (APIs).

The move gives Coinbase a local bank transfer option after its 2022 Unified Payments Interface (UPI) rollout ran into regulatory trouble.

IMPS is a 24/7 interbank payment system with transfer limits of up to 500,000 rupees (US$5,200), versus UPI’s typical 100,000 rupees (US$1,000) ceiling.

Coinbase said it is registered with India’s Financial Intelligence Unit (FIU-IND), which handles anti-money laundering reports.

Crypto exchanges offering futures to Indian users are expected to comply with anti-money laundering (AML) requirements, including know-your-customer checks, transaction monitoring, and tax obligations.

This applies even though India still does not have a domestic crypto derivatives market approved by the Securities and Exchange Board of India (SEBI).

🔗 Source: CoinDesk

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