What is the difference between a trade and a non-trade payment to India?

A trade payment settles an invoice for goods or services and is limited to INR 1,500,000 per invoice. A non-trade payment is between individuals, consumer to consumer, and runs up to INR 500,000,000. Each carries its own purpose of payment code.

Can an individual use this corridor?

Yes. India is one of the corridors that supports consumer to business and consumer to consumer payments, so an individual can pay an Indian business against an invoice or another individual as a non-trade payment, after onboarding.

Can I pay my own Indian bank account?

Payouts to your own account follow the same onboarding and screening as third-party payouts, without the 0.25% third-party element of the fee.

What is the maximum for a INR payout to India?

Trade payments INR 1,500,000 per invoice; non-trade payments INR 500,000,000, consumer to consumer only. The receiving market sets it; XEROF adds no limit of its own. Payment types available: business to business, business to consumer, consumer to business, consumer to consumer.

Payouts to India

Pay Indian rupees from USDT or USDC

India is the single largest destination for stablecoin-to-rupee demand, and it is also one of the corridors where the rules differ most by purpose of payment. XEROF pays INR to a bank account in India from a USDT or USDC balance, for trade payments against an invoice and for non-trade payments between individuals. Coverage effective 1 October 2026.

How a payout to India works

Trade payments are capped at INR 1,500,000 per invoice and are made business to business, business to consumer or consumer to business. Non-trade payments, consumer to consumer only, run up to INR 500,000,000. Purpose of payment codes apply and are confirmed with you before the first payment.

Payout currency: INR
Paid to: A bank account in India, in the beneficiary's name
Payment types: B2B (business to business), B2C (business to consumer), C2B (consumer to business), C2C (consumer to consumer)
Maximum per payment: trade payments INR 1,500,000 per invoice; non-trade payments INR 500,000,000, consumer to consumer only. Set by the receiving market, not by XEROF.
Rails: Local bank transfer in INR
Funding: USDT or USDC on Ethereum (ERC-20) only
Rate and pricing: You convert in XEROF Online at the live rate; the local-currency leg is priced per corridor and quoted per payment, and the confirmation shows the rate, the fee and the net amount before you commit

Who pays Indian rupees this way

Illustrative uses of the India corridor.

A trading company outside India settling a supplier invoice in INR against the invoice, within the per-invoice limit.
A business paying an Indian contractor or service provider in rupees, to the contractor's own bank account.
An individual paying another individual in India from their own USDT or USDC, a non-trade payment under the consumer to consumer limit.

What XEROF needs before the first payment

Beneficiary name, bank account number and IFSC code.
The invoice for a trade payment; INR 1,500,000 is the maximum per invoice.
Purpose of payment code, which XEROF confirms with you before the first payment in this corridor.

A worked example in INR

Illustrative figures for a payout to India; the confirmation in XEROF Online shows the actual rate, fee and net amount before you commit.

You send: USDT 20,000 on ERC-20
XEROF converts: USD 20,000 equivalent converted in XEROF Online at the live rate from tier 1 liquidity
Beneficiary receives: INR to the supplier's account against invoice
Fees on this example: Brokerage fee on the conversion under the Fee Schedule (minimum USD 200 per transaction), plus corridor pricing for the local-currency leg, quoted per payment and shown before you commit

Indian rupees payouts are priced per corridor: the stablecoin conversion carries the brokerage fee (minimum USD 200 per transaction), and the INR leg, FX and the local rail, is quoted per payment and shown before you commit. The brokerage tiers are on the pricing page.

Common questions

What is the difference between a trade and a non-trade payment to India?: A trade payment settles an invoice for goods or services and is limited to INR 1,500,000 per invoice. A non-trade payment is between individuals, consumer to consumer, and runs up to INR 500,000,000. Each carries its own purpose of payment code.
Can an individual use this corridor?: Yes. India is one of the corridors that supports consumer to business and consumer to consumer payments, so an individual can pay an Indian business against an invoice or another individual as a non-trade payment, after onboarding.
Can I pay my own Indian bank account?: Payouts to your own account follow the same onboarding and screening as third-party payouts, without the 0.25% third-party element of the fee.
What is the maximum for a INR payout to India?: Trade payments INR 1,500,000 per invoice; non-trade payments INR 500,000,000, consumer to consumer only. The receiving market sets it; XEROF adds no limit of its own. Payment types available: business to business, business to consumer, consumer to business, consumer to consumer.

Maximum sizes for India are set by the receiving market. Availability is subject to sanctions screening, XEROF's risk appetite and our payment partners' requirements, and may be varied or suspended; see the full coverage table. Indicative and not an offer.

Where to next

Pay Indian rupees in India from a stablecoin balance through a Swiss-regulated counterparty. Open an account online as a company or an individual; payouts are available once onboarding is complete.

Talk to our team Open account