Coinbase launches Indian rupee rails with perps access in expansion push — 2026-06-01

## Short Segments Coinbase is making a strategic move into India by launching direct Indian rupee rails and perpetual futures trading. This development is part of a broader expansion strategy in Asia's third-largest economy. Coming up, we'll explore how the digital euro is being positioned as a counter to stablecoin risks, and how stablecoins are reshaping business payments. Later, we'll dive deeper into Coinbase's expansion in India and what it means for the crypto market there. Digital euro is key to counter stablecoin risks, says ECB’s Schnabel. Isabel Schnabel, a member of the European Central Bank's board, emphasized the need for central banks to address stablecoin risks through strong regulation and the development of central bank digital currencies (CBDCs). She highlighted that the growing use of stablecoins could reinforce the dollar's dominance and undermine the euro's role in the global economy. With stablecoins gaining traction, Schnabel's remarks underscore the urgency for the ECB to develop a digital euro to maintain monetary sovereignty and stability. This move could reshape the landscape for issuers and regulators, as they navigate the evolving digital currency ecosystem. The stablecoin revolution is reshaping business payments. Stablecoins are increasingly being used in business-to-business payments, shifting the focus from speculative crypto activities to practical treasury applications. Companies are turning to dollar-pegged digital assets for supplier payments, payroll, and cross-border settlements, where traditional banking systems are slow and costly. This trend highlights the growing importance of stablecoins as a new financial rail, offering faster and more efficient transactions. For businesses, this means reduced friction in fund movements and a potential overhaul of traditional payment processes. BIS's latest research: The future of stablecoins and the global monetary landscape. The Bank for International Settlements (BIS) has released a report analyzing the impact of stablecoins on the international monetary system. The report reveals that approximately 98% of stablecoins are dollar-denominated, reinforcing the dollar's dominance rather than challenging it. This could accelerate digital dollarization in emerging markets, posing risks to their monetary sovereignty. The findings suggest that while stablecoins offer new opportunities for cross-border payments, they also present challenges for global monetary policy and regulation. ## Feature Story Coinbase launches Indian rupee rails with perps access in expansion push. Coinbase has made a significant move by launching direct Indian rupee (INR) deposit and withdrawal rails, alongside perpetual futures trading, in India. This marks a major expansion into Asia's third-largest economy, aiming to tap into its booming $3 billion crypto market. By enabling INR transactions through the Immediate Payment Service (IMPS), Coinbase removes the need for peer-to-peer exchanges and intermediaries, reducing friction and scam risks for Indian users. This development allows seamless bank-to-crypto transfers on a regulated platform, enhancing accessibility for retail traders. Coinbase's strategy aligns with its broader "Everything Exchange" initiative, which includes plans to introduce tokenized equities, decentralized exchange access, and DeFi lending in India over the next year. The move comes after Coinbase's initial attempt to enter the Indian market in 2022 faced regulatory hurdles and was short-lived. Now, with a fully functional fiat integration, Coinbase is poised to capture a significant share of the Indian crypto market. For issuers and custodians, this expansion means increased liquidity and trading opportunities, while regulators will need to monitor the impact on local financial systems. As Coinbase strengthens its foothold in India, the focus will be on how this integration influences the broader adoption of cryptocurrencies in the region.