Coinbase suspends INR withdrawals in India after banking partner outage

Cryptocurrency exchange Coinbase has temporarily suspended Indian rupee (INR) withdrawals for users in India following an outage at one of its banking partners. The disruption is affecting the bank’s payouts for all its clients and is not limited to Coinbase, the company said in an update on X.

Coinbase said INR deposits, including those made through the Unified Payments Interface (UPI), and bank account linking were continuing to function as usual. It also assured users that their funds were safe and said it was working with the banking partner to restore withdrawal services. The company has not provided a timeline for the resumption of withdrawals.

An update for Coinbase users in India

INR withdrawals are temporarily unavailable due to an outage at our banking partner. The outage is affecting the bank’s payouts for all of its clients, not just Coinbase.

Your funds are safe. INR deposits (including UPI) and bank account linking are working as usual.

We’re working with the bank around the clock to restore withdrawals as soon as possible.

We’ll post updates here.

— Coinbase India (@CoinbaseIndia) November 14, 2026

According to Coinbase’s status page, the banking issue was first reported on November 9, 2026. An initial notice said customers could face difficulties withdrawing INR, linking new bank accounts and using UPI, while deposits could also experience delays. A subsequent update narrowed the disruption to INR withdrawals and confirmed that deposits, UPI transactions and bank account linking were operational.

The exchange has advised users against initiating new INR withdrawal requests during the disruption, as transactions could fail or remain pending until the issue is resolved.

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What does Coinbase do?

Coinbase is a United States-based cryptocurrency exchange that allows users to buy, sell, hold and trade digital assets such as Bitcoin and Ether. The company also provides cryptocurrency custody and trading services to institutional clients.

The exchange expanded its services in India in 2026, introducing direct Indian rupee deposits and withdrawals through the Immediate Payment Service (IMPS) channel. The move also gave Indian users access to spot trading across cryptocurrency assets and perpetual futures contracts.