Cryptocurrency exchange Coinbase has temporarily suspended Indian rupee (INR) withdrawals following a banking partner outage that has lasted for over five days.
In a statement on X on November 14, Coinbase India reassured users that their funds remain secure and that INR deposits and bank account linking continue to function normally. The exchange stated it is working around the clock with its banking partner to restore full payout services.
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
The disruption is part of a broader banking bottleneck affecting the Indian crypto sector. Unocoin suspended all deposits and withdrawals on November 9, while ZebPay reported significant processing delays for INR withdrawals starting November 11 due to similar technical issues.
These outages highlight the industry’s heavy reliance on traditional banking infrastructure for fiat conversions.
The setback comes just months after Coinbase expanded its operations in India in June 2026, introducing direct IMPS-enabled INR transactions and registering with the Financial Intelligence Unit (FIU-IND).
Meanwhile, regulatory caution persists, with Reserve Bank of India officials warning financial institutions about virtual digital assets. While customers await restoration of services, the prolonged downtime underscores ongoing vulnerabilities for crypto investors seeking reliable fiat access under India’s strict tax framework.