Now Reading: Coinbase halts INR withdrawals after banking partner outage
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Coinbase halts INR withdrawals after banking partner outage
The Story in Brief
Cryptocurrency exchange Coinbase has temporarily suspended Indian rupee withdrawals for users in India following an outage at one of its banking partners. The disruption affects payouts for all clients of the bank, not just Coinbase, the company said in an update on X on Saturday, 14 November 2026.
Coinbase assured users that their funds were safe and that INR deposits, including through UPI, and bank account linking were functioning normally. The banking issue was first reported on 9 November 2026, Coinbase's status page shows. The exchange is working to restore withdrawals but has not provided a timeline. It advised users not to initiate new withdrawal requests during the disruption.
Indian Opinion Analysis
The suspension leaves Indian Coinbase users unable to access rupee funds from their accounts, with no timeline for restoration. The company frames the issue as a third-party banking outage beyond its control, narrowing the disruption to withdrawals while deposits remain open. Users face failed or pending transactions if they attempt withdrawals before the bank resolves the problem. The exchange's status page shows the issue has persisted since 9 November, suggesting it is not a brief glitch. Coinbase's 2026 expansion into direct INR deposits and spot trading in India now has a critical operational gap, and the next update from the company will determine how quickly confidence is restored.
Source: cnbctv18.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
