Global crypto exchange Coinbase now supports UPI and IMPS payments in India. So, Indian users can now buy different cryptocurrencies in India by enabling UPI payment.
When I checked the Coinbase app on my phone, I could only find the UPI payment option but several other Indian users also got the Bank Transfer option. It seems the company is still testing the Bank transfer payment option with a limited number of users.
The company has not made it clear what banks it has partnered with for enabling UPI payments. This information will be interesting because most banks avoid partnering with crypto exchanges in the country.
Coinbase is one of the biggest crypto exchanges globally. It has a presence in over 100 countries. I was available for Indian users for years but didn’t have any payment method for Indian users. Now when UPI and Bank transfer is available, Indian people can also add money to Coinbase and purchase different cryptocurrencies.
Also see: Best Cryptocurrency Exchanges in India
In recent months, the company became serious about the Indian market. It hired former Google Pay executive Pankaj Gupta in a key role. Along with offering its own exchange, Coinbase has also backed two of India’s most popular cryptocurrency exchanges CoinSwitch Kuber and CoinDCX. The company is also holding an India-focused event on April 7 where we can expect several key announcements for the Indian market.
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