Coinbase India Withdrawal Service Paused for Over Five Days

Coinbase has confirmed that Indian rupee withdrawals remain unavailable to users on its platform in India as of November 14. The exchange attributes the issue to an outage at its banking partner, which has disrupted payouts for all clients. INR deposits, including through UPI, and bank account linking continue to operate normally.

In a statement posted on its official X account on November 14, Coinbase India noted the problem and advised customers against initiating new withdrawal requests. Any transactions submitted during the outage may fail or remain pending. The company has reassured users that their funds stay safe and that its team is working around the clock with the bank to restore the service. No specific timeline for resumption has been provided.

The disruption first appeared in Coinbase’s status page on November 9 and has persisted without resolution. Users on social media have expressed frustration, with some calling for alternative banking partners and questioning communication timelines. Several replies also asked the exchange to enable crypto-to-crypto transfers as a temporary option during the outage.

Coinbase’s Recent India Rupee Services Expansion

Coinbase launched direct INR deposits and withdrawals through India’s Immediate Payment Service in May 2026. The move followed registration with the country’s Financial Intelligence Unit and marked an expansion of rupee-based services for Indian customers, including access to spot trading and futures. Earlier in the year, the platform had resumed registrations for crypto-only trading before rolling out full INR rails.

This outage comes shortly after the service launch, highlighting operational challenges in integrating with local banking systems.

Rivals Unocoin and ZebPay Also Reporting Issues

Unocoin has halted all deposits and withdrawals since November 9 without announcing a resumption date. The exchange cited a security incident in its blog update from that day.

ZebPay has continued offering INR withdrawals but noted delays due to a technical issue at its banking partner. On November 11, the platform posted an update acknowledging service disruptions and confirming ongoing upgrades to its systems. Users have been asked to exercise patience as the company works to address the delays.

A second ZebPay post on the same day highlighted ongoing technical upgrades across its infrastructure.

Broader Context of Banking and Regulatory Challenges for Crypto

These incidents align with India’s ongoing regulatory stance that encourages banks and financial institutions to avoid involvement in cryptocurrency activities. Deputy governors of the Reserve Bank of India have previously stated that virtual digital assets could pose risks to the economy and urged institutions to distance themselves from crypto-related businesses.

Despite this, India permits cryptocurrency trading under specific tax provisions, including a 30 percent levy on gains and a 1 percent tax deduction at source. The latest disruptions underscore the complexities of maintaining seamless fiat on-ramps and off-ramps in a market where banking infrastructure remains cautious toward crypto platforms.