ZebPay was founded in 2014 by co-founders Sandeep Goenka, Saurabh Agarwal and Mahin Gupta. The company launched its wallet service in the same year and soon grew to become the biggest cryptocurrency exchange in the country. In July 2015, ZebPay launched its app for traders, and in December 2017 the company had a trading volume of USD 1 billion. In 2018, the RBI released a notice stating that entities regulated by it shall not deal in virtual currencies, causing many exchanges in the country, including ZebPay, to shut operations in India.
In 2020, after establishing a presence in Australia and other countries, ZebPay was acquired by Rahul Pagidipati, and the company relaunched in India. The company launched five crypto-crypto trading pairs in February 2020. After the Supreme Court hearing on 4th March, 2020, the company also started INR trading and introduced instant deposit/withdrawal features.