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Exchanges

ZebPay

ZebPay is India's longest-standing cryptocurrency exchange (2014), registered with FIU-India and led by CEO Rahul Pagidipati. It is not authorised as a CASP in the European Union: it is a platform designed for the Indian market, with crypto-INR pairs and accumulation plans.

Riccardo CuratoloBy Riccardo Curatolo 2 min read How we work
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What ZebPay is

Launched in 2014, ZebPay is India's oldest cryptocurrency exchange and one of the most used, with millions of registered users and both crypto-INR and crypto-crypto pairs. Its history mirrors that of Indian regulation: it suspended domestic operations in 2018, after the central bank (RBI) circular barring banks from serving crypto companies, and resumed them when India's Supreme Court struck down that ban in March 2020. Every user is KYC-verified with a linked bank account. In October 2025 it marked 11 years with a rebrand and in January 2026 it launched periodic cryptocurrency accumulation plans (Crypto SIP). Today it reports more than 6 million registered users and also offers perpetual futures, leveraged products that carry a high risk of loss. (Verified: October 2026)

Regulation and licences

  • MiCA: NO — ZebPay does not appear in the ESMA register of authorised CASPs: in the European Union it is not a regulated option. (Verified: October 2026)
  • India: registered as a reporting entity with FIU-IND (Financial Intelligence Unit - India) under the PMLA, India's anti-money-laundering law — a mandatory requirement for exchanges operating legally in the country (49 platforms registered as at early 2026). (Verified: September 2026)
  • Indian tax context: crypto capital gains taxed at 30% plus a 1% TDS on transactions — a regime that since 2022 has shifted part of Indian volumes abroad; the rates are set by the annual budget law and can change.

Security

  • ZebPay states that custody is predominantly in cold storage with user funds held separately; there are no publicly known breaches of customer funds in its history — unlike its compatriot WazirX, hit in 2024 by a serious theft.
  • The crypto lending/yield feature, with stated returns between 3% and 12%, involves locking coins with the platform: it should be treated as a counterparty-risk product, not as a guaranteed deposit. Availability and the rates actually applied can change over time.

Alternatives

  • Kraken — for those looking for an operator with a MiCA licence valid in the EU

FAQ

  • Can I use ZebPay from the EU? ZebPay is built for the Indian market (KYC with an Indian bank account, rupee pairs) and is not a MiCA-authorised CASP: it is not an EU-regulated option. (Verified: September 2026)
  • Is ZebPay legal in India? Yes: it is registered with FIU-IND as a reporting entity under Indian anti-money-laundering rules, a necessary condition to operate legally in the country. (Verified: September 2026)

Verified sources

TEAM MEMBERS

Rahul Pagidipati
CEO

    
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