Coinbase in India 2026: Legal, INR Deposits and Custody
Coinbase is back in India with FIU registration and rupee deposits by IMPS. What it offers, how it compares, what Coinbase Custody is, and its latest launches.
Coinbase, the largest listed crypto exchange in the United States, has had a bumpy history in India. It launched in 2022, pulled back in 2023, registered with India's Financial Intelligence Unit in 2025 and, on 1 June 2026, switched on direct rupee deposits and withdrawals. This guide covers whether Coinbase is legal in India, what Indian users can do on it, what the often-searched Coinbase Custody is, and what the company has launched recently.
Key takeaways
- Coinbase is registered with FIU-IND, so it is a legal option for Indian users.
- Since 1 June 2026 Indians can deposit and withdraw rupees through IMPS, with a local INR order book, spot trading and perpetual futures.
- Coinbase Custody is a separate business that holds crypto for institutions, such as US Bitcoin ETFs. It is not a product for Indian retail users.
- In September 2026 Coinbase teamed up with Stablecore to offer crypto services through more than 3,000 US community banks and credit unions.
- Normal Indian crypto tax applies: 30% on gains and 1% TDS on sales.
Coinbase in India: a short history
| When | What happened |
|---|---|
| April 2022 | Coinbase launched in India with UPI payments, but paused UPI within days after the payments body NPCI said it was not aware of any crypto exchange using UPI. |
| 2023 | Coinbase stopped serving Indian users and asked them to withdraw their funds. |
| 2025 | Coinbase registered with FIU-IND and began bringing back crypto trading for Indians. |
| 1 June 2026 | Direct INR deposits and withdrawals by IMPS went live, with a local INR order book, spot trading and perpetual futures. |
Coinbase is also an investor in CoinDCX, one of India's largest local exchanges, and has funded Indian developers building on Base, its own blockchain network.
Is Coinbase legal in India?
Yes. Every crypto platform that serves Indian users has to register with FIU-IND under the anti-money laundering law, and Coinbase has done so. That puts it in the same group as the main Indian exchanges, and unlike the offshore platforms that FIU-IND has flagged and blocked. See the full FIU-registered exchanges list.
Registration is not a guarantee of safety. It means Coinbase must check identities, keep records and report suspicious activity. It does not mean the government insures your crypto. Like every exchange in India, there is no deposit insurance on crypto balances.
What Indian users get on Coinbase
- Rupee deposits and withdrawals through IMPS, directly from and to your bank account. Coinbase said it charges no fee on INR deposits.
- Spot trading on a local INR order book, so you can buy coins with rupees rather than first buying a stablecoin.
- Perpetual futures on major coins, for experienced traders. Leverage magnifies losses as well as gains.
- Coinbase Advanced, the professional trading screen with charts, APIs and more order types.
Coinbase says most customer crypto is kept in cold storage and that it carries crime insurance and publishes audited results every quarter, as a US-listed company must. Check the fee page in the app before trading, because trading fees vary by product and volume.
Coinbase vs Indian exchanges
| Point | Coinbase | Local exchanges (CoinDCX, CoinSwitch and others) |
|---|---|---|
| FIU-IND registered | Yes | Yes, for the main names |
| Rupee deposits | IMPS | UPI, IMPS, NEFT (varies) |
| Parent company | US-listed, publishes audited accounts | Indian private companies, some publish proof of reserves |
| Coins on offer | Coinbase's own list | Often more small coins |
| TDS and tax | Indian rules apply | Indian rules apply |
For a close look at the two biggest local names, read CoinDCX vs CoinSwitch and our best legal crypto apps in India guide.
What is Coinbase Custody?
Coinbase Custody is the part of Coinbase that stores crypto for large institutions. It is run through Coinbase Custody Trust Company, a trust company chartered in New York, and it keeps most assets in offline cold storage. It is the custodian for most US spot Bitcoin ETFs, including BlackRock's IBIT, which means the bitcoin behind those funds is held there.
Custody is sold to funds, companies and banks, usually together with Coinbase Prime, the firm's institutional trading service. An Indian retail investor does not open a Coinbase Custody account. If you want exposure to those ETFs from India, read how to buy BlackRock's IBIT from India.
Coinbase's latest launches
- Stablecore partnership (16 September 2026). Coinbase and Stablecore will let US community banks and credit unions offer crypto trading, custody, staking and stablecoin payments under their own brand. Stablecore's systems reach more than 3,000 such institutions, though that is potential reach, not live banks. Amarillo National Bank is one of the first users, and a wider rollout is planned from the fourth quarter of 2026.
- New matching engine on Deribit. Coinbase, which owns the options exchange Deribit, rolled out a faster matching engine there in August 2026, built to handle more than 100,000 orders a second. Deribit sets the Bitcoin options expiry times many traders follow; see our BTC expiry time guide.
- Tokenised stocks. Coinbase is one of the firms expected to benefit from the US SEC's tokenised stock pilot (our report).
Most of these launches are for US customers. The India offering is focused on rupee trading, spot and futures.
Tax on Coinbase trades in India
Using a global exchange does not change Indian tax. Gains on crypto are taxed at a flat 30% plus cess, 1% TDS applies when you sell, and losses cannot be set off against other income. Download your trade history each year for your return, and use our crypto tax calculator to estimate what you owe.
Watch out for fake Coinbase support
Scammers often pretend to be Coinbase support, calling or messaging users to "secure" their account. Coinbase staff will never ask for your password, 2FA code or recovery phrase. One such scammer was jailed in the US this year (our report).
Comparing apps? See our best crypto app in India ranking, which scores 12 FIU-registered apps on safety, fees, rupee deposits and withdrawals.
FAQ
Is Coinbase available in India?
Yes. Coinbase is registered with FIU-IND and, since 1 June 2026, lets Indian users deposit and withdraw rupees by IMPS and trade on a local INR order book.
Is Coinbase legal in India?
Yes. It is registered with FIU-IND, which is the registration crypto platforms serving Indians need. Indian tax rules apply to your trades.
Can I use UPI on Coinbase in India?
Coinbase's rupee launch uses IMPS bank transfers. It paused UPI back in 2022, so check the app for the payment methods currently offered.
What is Coinbase Custody?
A Coinbase business that stores crypto for institutions, run through a New York chartered trust company. It holds the bitcoin for most US spot Bitcoin ETFs. It is not for retail users.
What did Coinbase launch in September 2026?
The biggest news was a partnership with Stablecore, announced on 16 September 2026, to bring crypto trading, custody and stablecoin payments to US community banks and credit unions.
This article is AI-assisted, educational and general in nature. It is not financial advice and never a guarantee of profit. Every trade is at your own risk on your own exchange. See our risk disclosure and editorial policy.
