Coinbase Opens Direct INR Deposits for Indian Users
The post Coinbase Opens Direct INR Deposits for Indian Users appeared on BitcoinEthereumNews.com. Coinbase has opened direct Indian rupee (INR) deposits and withdrawals for customers in India, letting them move money between bank accounts and the exchange without intermediaries. The rollout is gradual. Several Indian users report a “Buys not supported” prompt after finishing onboarding, while the company says access keeps expanding. Coinbase’s Second Attempt After the 2022 Retreat Coinbase routes the new deposits through the Immediate Payment Service (IMPS), India’s interbank transfer system. It is not using the Unified Payments Interface (UPI) for now. That choice matters. In 2022, the exchange launched with UPI support and suspended it within three days. The shutdown followed a public statement from the National Payments Corporation of India. Chief executive Brian Armstrong later blamed informal pressure from the Reserve Bank of India. The dispute forced Coinbase into crypto-to-crypt