According to a report by Coindesk, Coinbase has officially launched its Indian Rupee (INR) deposit and withdrawal services, making a full-scale entry into the Indian cryptocurrency market.

Accordingly, Indian users can now directly deposit and withdraw rupees between their bank accounts and Coinbase accounts starting June 1 (local time) utilizing the Immediate Payment Service (IMPS). Previously, Indian investors could only move funds through P2P trading or third-party intermediaries, but the introduction of this service brings a more convenient and intuitive trading environment.

Coinbase's latest move is interpreted as a strategy to preempt the rapidly growing Indian market. The size of the Indian cryptocurrency market is estimated at approximately $3.04 billion as of 2025, and it is expected to continue its steady growth, reaching a scale of $14.2 billion by 2034.