Is ZebPay Safe and Legal in India? FIU, History, Fees
Yes. ZebPay runs in India as Awlencan Innovations India Ltd, an FIU-registered firm with no major hack since 2014. Its custody terms, fees and risks.
Yes, ZebPay is legal in India. Its Indian company, Awlencan Innovations India Limited, is registered with FIU-IND and is on the government's list of 54 registered VDA service providers tabled in the Lok Sabha on 30 March 2026. ZebPay has operated since 2014 with no major hack on record, which makes it one of the more established Indian choices, but coins you keep on it are in ZebPay's custody and are not insured by any regulator.
Key takeaways
- ZebPay is entry 7 on the official list of 54 platforms registered with FIU-IND, under the name Awlencan Innovations India Limited.
- FIU-IND registration is an anti-money-laundering requirement, not an RBI licence or a guarantee of your money.
- ZebPay closed its Indian exchange in September 2018 during the RBI banking ban and came back in 2020. We found no hack, no FIU-IND penalty and no blocking order.
- Watch the small print: a monthly membership fee of 0.0001 BTC if you make no trade, a ₹15 fee per rupee withdrawal, and a clause on idle rupee balances.
- We score ZebPay 7.9/10, fifth of the 12 Indian apps we rank.
Is ZebPay legal in India?
Crypto is not banned in India. It is not legal tender, but you may buy, sell and hold it; the government taxes gains and requires platforms to follow anti-money-laundering rules. Since a Finance Ministry notification of 7 March 2023, any platform serving Indian users must register with FIU-IND as a reporting entity under the Prevention of Money Laundering Act. The background is in our guide to whether crypto is legal in India.
ZebPay is registered. In its written answer to Lok Sabha Unstarred Question No. 5805 on 30 March 2026, the Finance Ministry listed the 54 VDA service providers registered with FIU-IND as of 9 March 2026. Awlencan Innovations India Limited, trade name ZebPay, is entry 7. The same answer listed 53 offshore platforms whose apps and websites FIU-IND has directed to be taken down; ZebPay is not one of them.
No crypto exchange holds an RBI licence, because the RBI does not issue one. If you see "RBI approved" on any crypto app, treat it as a red flag; our RBI-approved crypto exchange guide explains why.
Who runs ZebPay?
ZebPay started in Ahmedabad in 2014, which makes it one of India's oldest bitcoin platforms. Its current terms and privacy policy name the company that serves Indian users:
| Item | What we found |
|---|---|
| Indian operating company | Awlencan Innovations India Limited |
| Corporate identity number | U72100TS2018FLC177177 |
| Registered office | Hi-Tech City, Kondapur, Hyderabad, Telangana |
| Entry on the Lok Sabha list | No. 7 of 54 |
| FIU-IND "VA" number | Not shown on its website when we checked; ask support for it |
| Who ran ZebPay before | An earlier company, which was put into liquidation under the new management |
The terms say that even where a group affiliate provides a ZebPay service, Awlencan Innovations India Limited accepts responsibility as the primary obligor, and claims go against it rather than the affiliate. In plain words, your contract is with an Indian company, which is what you want if you ever need to file a complaint.
ZebPay's history: shutdown, return and checks
| When | What happened |
|---|---|
| 2014 | ZebPay launches as a bitcoin app in India |
| April 2018 | RBI tells banks to stop serving crypto businesses |
| July 2018 | ZebPay switches off rupee deposits and withdrawals |
| 28 September 2018 | ZebPay closes its Indian exchange; open orders are cancelled and coins credited to users' wallets, which keep working |
| 2019 | A Ministry of Corporate Affairs inspection is closed; ZebPay said it paid a small fine for an accounting error |
| Early 2020 | ZebPay announces its return to India under new management |
| 4 March 2020 | The Supreme Court strikes down the RBI banking restriction, and rupee trading revives across Indian exchanges |
| March 2023 | Crypto platforms are brought under the anti-money-laundering law and must register with FIU-IND |
| 9 March 2026 | ZebPay's Indian company is among the 54 registered platforms the government later lists in the Lok Sabha |
The 2018 episode is worth remembering. ZebPay did not lose users' coins, but rupee withdrawals stopped for months because banks would not serve exchanges. Policy risk, not only hacking risk, can lock up money on an exchange.
Has ZebPay ever been hacked?
We found no major hack of ZebPay in its history, no FIU-IND penalty order and no blocking notice. That record is better than many. It is not proof of future safety, and we could not find a published proof-of-reserves report from ZebPay showing that customer coins are fully backed. For the difference a hack makes, compare our guide to whether WazirX is safe after its July 2024 hack.
How ZebPay holds your money
ZebPay is custodial: it holds your coins and rupees for you. Three clauses in its terms are worth reading before you deposit.
- Third-party custodians: the terms say wallet services may be provided through a third-party custodian, and that ZebPay is not liable for losses caused by that custodian's failure, insolvency or security breach.
- Idle rupee balances: if rupees sit in your account unused for eleven months after you deposit them, ZebPay keeps the right to convert them into a stable crypto asset. Do not use the app as a savings account.
- Futures wallet: money in the futures wallet can only go back to your rupee or USDT balance inside ZebPay, not straight to a bank or external wallet.
You can withdraw coins to your own wallet, which ZebPay allows for supported coins with a network fee. Learn to keep them safely with our seed phrase guide. If an exchange ever does fail, our explainer on what happens to your crypto if an exchange shuts down covers the process.
ZebPay fees that affect safety of your balance
These are the charges listed on ZebPay's fee page when we checked on 3 October 2026. The full breakdown is in our ZebPay review.
| Charge | Amount | ₹ example |
|---|---|---|
| Spot trading, regular tier | 0.45% maker and taker | ₹45 on a ₹10,000 trade |
| Quick Trade | From 0.5% | ₹50 on a ₹10,000 trade |
| Monthly membership fee | 0.0001 BTC if you make no trade that month | About ₹820 at about ₹81.8 lakh per bitcoin on 3 October 2026 |
| Rupee withdrawal | Flat ₹15 | ₹15 per withdrawal |
| Enhanced KYC (for higher limits) | ₹590 one time | Regular KYC is free |
| Crypto withdrawal | Network fee per coin | Shown before you confirm |
The membership fee matters most for small, dormant accounts. If you hold ₹5,000 of crypto and forget the app for a year, twelve charges of roughly ₹810 each could exceed your balance. ZebPay says you avoid it by making at least one trade a month or by using its earning feature.
TDS and tax on ZebPay
ZebPay deducts the 1% TDS automatically when you sell on spot or Quick Trade, and the deduction shows in your Form 26AS. TDS is only a prepayment. Under the rules introduced as Section 115BBH, gains are taxed at 30% plus 4% cess, only the purchase cost is deductible, and losses cannot be set off or carried forward. Example: buy ether for ₹50,000 and sell it for ₹60,000. ZebPay deducts ₹600 TDS; the tax on your ₹10,000 gain is ₹3,120, so you pay the remaining ₹2,520 when filing, through Schedule VDA. Our crypto tax guide covers the details, including futures, whose tax treatment is not yet settled.
What this means for you
- Using ZebPay is legal and you deal with an Indian company on the government's register.
- Its long record counts, but it does not replace your own precautions. Withdraw long-term holdings to a wallet you control.
- Do not leave small balances idle. Between the monthly membership fee and the idle-rupee clause, a forgotten account can shrink.
- Plan withdrawals. ZebPay says rupee withdrawals can take up to three working days, so do not depend on same-day cash.
- Keep yearly statements for your tax return and any dispute.
How to check any Indian crypto exchange
- Find the legal company name and the FIU-IND "VA" registration number in the terms, privacy policy or compliance page. If it is missing, ask support in writing.
- Check that the company is on the government's list, which we reproduce on our FIU-registered exchanges page. FIU-IND's website does not publish a register.
- Look for FIU-IND penalty orders and blocking notices. FIU-IND acted against 15 offshore platforms in September 2026.
- Read the fee page for inactivity, membership and withdrawal charges before you deposit.
- Make a small test withdrawal to your bank. Our guide to withdrawing crypto to a bank account shows how.
- Download only the official app and turn on two-factor authentication.
ZebPay compared with other registered Indian apps
| App | Our score | Our rank | Lok Sabha list entry | Crypto withdrawals |
|---|---|---|---|---|
| CoinDCX | 8.4/10 | #1 | No. 1 | Yes |
| CoinSwitch | 8.1/10 | #3 | Nos. 9 and 10 | No |
| Mudrex | 8.0/10 | #4 | No. 11 | Yes |
| ZebPay | 7.9/10 | #5 | No. 7 | Yes |
| Pi42 | 7.2/10 | #9 | No. 36 | No, rupees only |
For the nearest rivals, see is Mudrex safe and legal and our CoinDCX vs ZebPay comparison. Pi42, the futures exchange co-founded by former ZebPay chief executive Avinash Shekhar, is covered in is Pi42 legal in India. The full ranking is in our best crypto apps in India guide.
Related guides
- Is Giottus safe and legal in India?: FIU status and fees checked.
- Is Unocoin safe and legal in India?: history and FIU status.
- Is Bitbns safe and legal in India?: registration and the withdrawal delays explained.
FAQ
Is ZebPay registered with FIU-IND?
Yes. Awlencan Innovations India Limited, which runs ZebPay in India, is entry 7 on the list of 54 FIU-IND registered platforms tabled in the Lok Sabha on 30 March 2026.
Is ZebPay an Indian company?
Indian users deal with Awlencan Innovations India Limited, whose registered office is in Hyderabad. ZebPay itself began in Ahmedabad in 2014.
Is ZebPay safe for long-term holding?
ZebPay has no major hack on record, but any exchange can fail or freeze withdrawals, and the monthly membership fee eats into idle accounts. For long-term holdings, a wallet you control is safer.
Why did ZebPay shut down in 2018?
The RBI's April 2018 circular stopped banks from serving crypto businesses, so ZebPay closed its exchange on 28 September 2018. It returned in 2020, and the Supreme Court struck down the RBI restriction on 4 March 2020.
Is ZebPay approved by the RBI?
No. The RBI does not approve or license crypto exchanges; the registration that applies is with FIU-IND under the anti-money-laundering law.
Does ZebPay deduct TDS?
Yes, ZebPay deducts 1% TDS on crypto sales automatically. You still owe 30% tax plus cess on gains, and the TDS is credited against that.
This article is AI-assisted, educational and general in nature. It is not financial advice and never a guarantee of profit. Every trade is at your own risk on your own exchange. See our risk disclosure and editorial policy.
