Coinbase has introduced direct Indian rupee deposit and withdrawal services for customers in India. The U.S. exchange secured regulatory clearance to enable these bank rails via IMPS.
The platform now allows users to deposit and withdraw rupees directly alongside spot and perpetual futures trading. This development follows approval from Indian regulators and expands access for local traders on the exchange.
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Coinbase has secured UK regulatory authorization to offer equities and derivatives alongside crypto services. The approval advances the company's expansion in one of its key international markets.
India’s local price for Tether’s USDT stablecoin rose more than 8.5 percent above the dollar on June 29 amid tighter enforcement on crypto payment firms.
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The Reserve Bank of India intends to broaden its digital rupee pilot this fiscal year. It is also exploring central bank digital currency applications in international transactions.
Continuing its sharp FY26 depreciation—after breaching 94 in late March—the Indian rupee fell to a fresh record low of 95.28 against the US dollar on Tuesday, May 5. Oil prices exceeding $110 a barrel have intensified inflation and balance-of-payments worries, prompting Reserve Bank of India interventions amid curbs on foreign exchange positions.
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Foreign portfolio investors are directing record amounts into India's government securities this month following recent policy adjustments.