Why Zanmai India Is the Key to Reopening WazirX Withdrawals

Meet the New Pillar of WazirX’s Future—Zanmai India

In July 2024, WazirX experienced a security breach that impacted thousands of users. What followed was one of the most transparent and user-first crypto recovery efforts in the industry. 

By March 2025, creditors had voted in favor of the Scheme of Arrangement aimed at returning tokens and reviving platform operations.

However, the regulatory landscape shifted. With Singapore’s Financial Services and Markets Act (FSMA) coming into effect, the Singapore Court had regulatory concerns and within no time, WazirX made amendments in its original Scheme and adjusted its structure to maintain both compliance and speed of recovery.

The solution? Transitioning operational responsibility to its Indian affiliate—Zanmai India.

Now, with the amended scheme awaiting a final vote and court approval, Zanmai India is poised to play a central role in restarting the platform and give users the access to funds.

Crypto platforms are only as strong as their operations. And in the case of WazirX, the key to a stable and compliant relaunch will rest on the shoulders of Zanmai India.

In this article, we break down:

• Why Zanmai India will be in charge of platform operations
• What this means for your withdrawals
• How this move helps WazirX comply with new global crypto laws

What Is Zanmai India?

Zanmai Labs Private Limited is the Indian entity affiliated with WazirX. As per the amended Scheme of Arrangement dated July 2025, Zanmai India is designated to take over:

• Platform operations
• Withdrawal processing
• KYC compliance

This isn’t a cosmetic change—it’s a strategic realignment designed to prioritize speed, certainty, and compliance. In light of new global regulations like Singapore’s Financial Services and Markets Act (FSMA) 2022, WazirX chose to transition operations to Zanmai India—its locally positioned affiliate—to ensure users receive their funds faster while staying legally compliant. That act creates regulatory obligations for offshore token service providers, prompting Zettai (WazirX’s Singapore entity) to pass the operational reins to its Indian subsidiary.

Why Was This Change Necessary?

As part of its commitment to speed, stability, and legal compliance, WazirX proactively evaluated the best operational structure for its restructuring plan. With Singapore’s FSMA and evolving regulatory clarity around digital token services, continuing platform operations solely through Zettai posed additional layers of jurisdictional complexity.

By empowering Zanmai India to take charge of operations, WazirX created a pathway that:

• Establishes a compliant withdrawal framework under Indian law
• Avoids the challenges of cross-border legal coordination
• Enhances KYC and support processes for faster turnaround

Rather than slowing things down, this move accelerates user recovery while keeping the platform aligned with both Indian and global regulatory expectations.

How Will Withdrawals Work?

The amended scheme outlines a 3-step withdrawal process, managed by Zanmai India:

1. Distribution Credit: Your share of Net Liquid Platform Assets will be credited to your WazirX account.
2. KYC Verification: You will need to complete updated Know-Your-Customer (KYC) requirements to access withdrawals.
3. On-Chain Withdrawals: Once verified, users can transfer crypto to their personal wallets—except for certain unsupported tokens.

The entire system will be backed by court-enforceable protocols—if the amended scheme is approved—making it one of the most secure and structured withdrawal relaunches in crypto.

Why You Can Trust This Move

This isn’t just a management decision. It will be a court-structured, regulated, and verified process—if the amended scheme is approved:

✅ Court-Sanctioned:

 If approved, the scheme will be sanctioned by the Singapore High Court under Section 210 of the Companies Act.

✅ Audited and Verified:

 An Independent Assessor will be appointed by the Court to oversee crediting, withdrawals, and operational handover.

✅ Dual Accountability:

 Creditors will be able to hold both Zettai and Zanmai India responsible under the terms of the court-approved Scheme.

✅ Clear Timelines:

 Users will regain access to their tokens within 10 business days of the Scheme becoming effective—delivering a level of speed and certainty almost unheard of in crypto recoveries.

Your Chance to Decide the Outcome

No matter how you voted previously—or if you didn’t vote at all—this revote is your opportunity to help shape what comes next. It’s not just a procedural step; this decision will directly impact how quickly and securely you regain access to your crypto.

✅ New Townhall and Voting Schedule

• Townhall Date: July 30, 2025 (YouTube Live)
• Voting Window: July 30 – August 6, 2025

Frequently Asked Questions: Zanmai India & You

Is Zanmai India a new company?

No. It has always been part of the WazirX group. It will now become the face of platform operations to ensure regulatory compliance.

Will I get my crypto back?

Yes—if the revote passes, the court sanctions the scheme, and you complete KYC, your tokens will be available for withdrawal via Zanmai India.

Is this legally safe?

Absolutely. The plan is sanctioned by a top-tier legal system (Singapore High Court) and follows an open, transparent process.

When can I withdraw?

Within 10 business days of the scheme's effective date, provided you complete KYC successfully.

Will I need to vote again?

Yes. Only votes cast between 30 July and 6 August 2025 will count for the amended scheme.

A Bold but Necessary Shift

This isn’t just paperwork—it’s your path to recovery.

For over a year, WazirX users have waited to regain access to their funds. Now, that future rests in a single, decisive action: voting YES. Zanmai India’s takeover isn’t merely operational—it’s what will unlock your withdrawals, restore your balances, and bring closure to months of uncertainty.

If this scheme is approved, you will:

• Receive 85% of your rebalanced tokens
• Regain access within 10 business days of the court’s approval
• Participate in a platform built for compliance, stability, and future growth

But none of this happens without your vote.

Your crypto. Your future. Your vote.