ZebPay exchange profile: services, fees, custody and access

ZebPay combines an Indian order-book exchange with QuickTrade, an assisted buying and selling route. The distinction matters when comparing an execution price: a resting order depends on available counterparties, while QuickTrade presents a price for the selected transaction. Both routes support INR and crypto trading, but product access and transfer rights must be checked separately.[15][14]

The Australian tariff describes a QuickTrade service with a different cash-funding cost structure. The Indian futures menu, INR banking arrangements and eligibility rules should therefore not be applied to an Australian account.[12][17]

The order-book guide specifies a 60-day lifetime and cancellation at 00:00 UTC on the 61st day. Any remaining portion of a partial fill is also cancelled. A long-standing limit order therefore needs monitoring even when the intended investment horizon is longer; the outstanding instruction does not continue indefinitely.[16]

For USDT futures funded with INR margin, ZebPay fixes the INR/USDT conversion rate when the position opens. Its guide states that this internal conversion has no fee or TDS. Only one margin currency can be used for the same pair at a time: an existing position must be closed before switching. This fixes the conversion used by that position, without fixing the contract’s trading profit or loss.[19]

Closing a futures position and withdrawing money are separate actions. The guide supports market or limit exits; a limit instruction still requires execution. Available funds must then move from the Futures wallet to the ordinary fiat or crypto wallet before an external withdrawal can be requested.[18]

Indian service fees are quoted before GST; the published GST treatment adds 18% to applicable charges. A comparison needs the execution price, exchange fee and tax withholding shown separately. GST on a service fee increases its cost; TDS reduces immediately available proceeds and can create a tax credit, rather than being another exchange commission.[13][37]

For spot transactions, ZebPay’s specific TDS guide applies 1% withholding to INR sales and both directions of crypto-to-crypto trades. It excludes INR purchases and fiat deposits or withdrawals, and distinguishes ownership-changing crypto sends. Its broad pricing-page wording is therefore insufficient to calculate a particular transaction. The account provides TDS records and certificates; reconcile them with the tax statement rather than treating every deduction as a permanent trading expense.[37]

Futures funding applies to positions open at settlement. The FAQ gives intervals from 15 minutes to eight hours; use the contract’s displayed time. Submitting an exit does not avoid funding if it remains unfilled.[17]

Enabled auto-top-up can add available margin. The futures risk disclosure warns that losses can exceed the initial investment; the opening deposit does not cap exposure.[17]

The inactivity charge is material for a small buy-and-hold balance: 0.0001 BTC plus 18% GST, or equivalent assets/INR, for a month without qualifying trading or an active Earn contract. It is deducted on the first of the following month, capped at the available balance; zero balances incur no deduction and unpaid amounts do not roll forward. One qualifying trade or active Earn contract waives it. The BTC denomination means its fiat cost changes with BTC’s price.[9]

At the published Australian 10% GST treatment, the two fixed bank charges alone total AUD 77 for one deposit and one withdrawal: (40 + 30) × 1.10. That is 7.7% of an assumed AUD 1,000 funding amount before trading charges or market movement. The same fixed charges have a smaller proportional effect on larger transfers.[12][13]

Funding selection can change what an Indian account is allowed to do. The UPI guide says a customer who already enabled Instant Deposit and then activates UPI permanently loses crypto sends after confirming the change. This is a documented irreversible account choice, so a plan to withdraw purchased coins to a personal wallet must be resolved before choosing that route.[25]

A personal bank account must be an individual savings account in the same name; joint and NRE/NRO accounts are excluded. Only one bank account is registered at once. Changes are limited to one in a rolling 30 days and four per year, and adding or changing it triggers a 24-hour restriction on fiat and crypto withdrawals. Recent KYC or re-KYC can also prevent bank-account removal for 30 days.[28]

Whitelisting currently requires the mobile app, PIN and OTP, followed by review and a 24-hour cooling period. Up to ten addresses can be whitelisted per cryptocurrency. A saved address is not automatically an approved whitelist entry, and completing identity verification alone does not remove these transfer controls.[30]

The send workflow records the recipient’s name, platform, address and network, then requests PIN/OTP confirmation and potentially location access. Xpress Listing assets cannot be sent externally. The transfer guide allows 24–48 hours for validation and execution, even though the interface also describes sending in minutes. Track the transaction hash once generated; a platform processing delay and a blockchain confirmation delay are different stages.[38]

Before permanent deactivation, fiat and crypto balances must be removed. The Security Center asks for a reason and PIN, then sends status by email. Deactivation does not erase retained transaction/KYC data, and the same identity cannot be used to open another account under a different mobile number. Download necessary records before closing.[33]

ZebPay is custodial: users operate account balances while the service controls wallet infrastructure. Its security material describes offline storage, geographically distributed signing and restricted internal access. The current whitelist guide repeats an approximately 98% cold-storage claim. These are operator descriptions; they do not by themselves establish audited assets against all customer liabilities.[8][30]

The June 2026 custody explanation names BitGo and cites USD 100 million of insurance. No inspected policy schedule establishes which ZebPay entity, wallets, events or individual customers can claim that amount. It should not be converted into USD 100 million of protection per customer, a guaranteed payout, or insurance against market losses.[10]

Indian account terms require Indian residence, adulthood and non-US status. Account and transaction restrictions can follow verification or compliance concerns.[2]

Onboarding verifies the phone and email with OTPs, then PAN details, address and identity. DigiLocker can supply Aadhaar-based address verification; an uploaded-document route is provided if it fails. Location permission and a selfie are part of the documented workflow, and re-verification can be required later. The “document-free” marketing describes digital retrieval, not anonymous trading.[31]

Corporate onboarding uses a support-led document review: incorporation and constitutional documents, board authority, directors and signatories, beneficial owners above 10%, business activity, source of funds and company banking information. A personal approved account does not establish approval to transact for a separate company.[32]

The published round-the-clock channel is the in-app ZIVA chatbot. Account-specific issues can be escalated through a ticket raised with the registered email, with transaction identifiers and supporting files. The support policy says staff do not request PINs, OTPs or transfers to resolve an issue.[36]

The Indian account contract selects Hyderabad courts.[2]

The Australian agreement first requires written notice of a dispute. If unresolved within ten business days, a party may refer it to mediation within the following ten business days. It then describes mediation, potential arbitration and legal proceedings under specified conditions. This contractual process is not an automatic compensation scheme or an established AFCA membership claim.[3]

The account hub provides downloadable statements covering a date range of up to one year, with up to fifteen requests daily and a stated email delivery target of fifteen minutes. Order history separates pending orders from executions and records fees and TDS. Retain these alongside bank receipts, wallet transaction hashes and tax certificates, particularly before account deactivation.[34]

The Indian government’s 30 March 2026 parliamentary answer lists Awlencan Innovations India Limited, trading as Zebpay, among FIU-IND reporting entities as at 9 March 2026. The answer describes anti-money-laundering reporting duties. That is evidence of the specified registration, without establishing a securities-exchange licence, bank status or a guarantee of customer balances.[5]

ZebPay’s security page claims AUSTRAC registration, but the inspected material did not provide a matched current register identifier. The Australian ACN identifies the company; it is not itself an AUSTRAC or financial-services permission number. The company claim is consequently kept separate from the verified Indian government entry.[7][3]

There is a material Singapore conflict. ZebPay’s security page still describes a MAS exemption pending licence approval. MAS’s own list places Genie Technologies Pte Ltd among entities whose exemption has ended and states that those entities are not permitted to conduct the specified services; Genie’s marked activity is digital-payment-token service. The authority statement takes precedence over the marketing claim. This profile does not present Singapore retail service as currently authorised.[6][7]

The Indian operator is Awlencan Innovations India Limited, CIN U72100TS2018FLC177177. Its terms make it the primary obligor for services performed through affiliates.[2]

ZebPay’s timeline begins with its Bitcoin wallet in October 2014 and app in July 2015. It records an Australian launch in May 2019 and an Indian relaunch in March 2020. These milestones explain the brand’s long presence while also showing why an old launch announcement is insufficient evidence of current country eligibility.[1]

Operator

Awlencan Innovations India Limited; Awlencan Innovations Australia Pty Ltd for the Australian route

Exchange model

Centralised

Service scope

Indian spot, QuickTrade, perpetual contracts, baskets and recurring purchases; Australian QuickTrade and separately agreed institutional services.

Client types

Retail clients; Professional clients; Institutional clients

Pricing publication

Public and quoted pricing

Funding scope

Country-specific bank rails and crypto transfers. Indian UPI selection can permanently remove crypto-send access.

Custody and asset handling

Custodial balances and separate Earn deployment. Operator cold-storage and insurance statements do not establish a customer-specific guarantee.

Client eligibility

Indian resident adults subject to KYC and non-US restrictions. Australian contract excludes US and Singapore access.

Support

In-app chatbot and registered-email ticket process; account statements and contractual dispute routes.

Authorisation and registration scope

India: dated FIU reporting-entity evidence. Australia: company AUSTRAC claim. Singapore: MAS lists Genie Technologies as no longer exempt.

Exchange metadata checked 20 Oct 2026Source 2Source 3Source 5Source 6Source 7Source 25

Earn is a separate deployment of crypto assets. The published options are 30, 60 and 90 days where supported, with reward rates taken from the live offer. The ordinary exit promise returns the entire invested quantity to the wallet the same day, without an exit penalty, but forfeits earnings for the unfinished term. Partial exits are unavailable. That contractual promise must be read alongside the deployment and loss provisions discussed under custody.[20]

SIP buys use a prefunded ZebPay balance and the prevailing QuickTrade market price. They are not automatic e-NACH debits from a bank account. Users can choose daily, weekly or monthly dates from the 1st through the 28th, with a stated INR 100 starting amount subject to applicable order limits. Insufficient funds skip the purchase without a penalty; plans can be paused or cancelled. Setup has no extra fee, but every executed purchase retains ordinary QuickTrade charges and taxes.[22]

CryptoPacks support a sale of part of a basket, but not a withdrawal of its component coins. Rebalancing restores target weights by placing trades when allocations drift. Eligible packs are initially enrolled, with an opt-out window before first rebalancing and a later on/off control. Each rebalance can create fees and tax events. Turning it off stops subsequent adjustments rather than converting the basket into separately withdrawable coins.[23][24]

API access itself is free, while normal trading fees remain. Key creation lets the user choose permissions and IP addresses, requires OTP verification and displays the secret only once. The account hub describes read, trade and withdrawal permissions, so an automation integration can have greater authority than market-data retrieval. Limit access to its intended job and revoke unused keys.[35][34]

ZebPay scheduled VELODROME perpetual removal for 28 October 2026 and 62 USDT perpetual-pair removals for 29 October. The latter notice stops new orders at 11:00 IST and provides for market closure of remaining positions at 17:30 IST. These are the announced deadlines; the notice alone does not confirm every account’s settlement. A separate STG-to-ZRO notice says STG trading has stopped and eligible balances will convert at 1 STG to 0.08634 ZRO, while existing ZRO spot trading is unaffected.[39]