CoinDCX, an Indian cryptocurrency trade, has introduced an Worker Inventory Possession Plan (ESOP) buyback price ₹111 crore, benefiting greater than 500 present and former workers.
Sumit Gupta, the co-founder of CoinDCX, made the announcement on LinkedIn, saying the initiative is aimed toward delivering tangible worth to workers and reinforcing the corporate’s method to an ownership-driven tradition.
“Eight years in the past, many individuals informed us that constructing a crypto firm in India was “dangerous”. However the place others noticed danger, we noticed a basic alternative to form the way forward for finance,” he mentioned, including that the buyback intends to show that resilience pays off.
He additionally famous that the buyback covers former workers, acknowledging their function in CoinDCX’s development journey and making certain they too profit from the corporate’s progress.
“That is our manner of claiming thanks to our unbelievable crew: those that have been instrumental in serving to CoinDCX scale to change into India’s largest crypto trade and in enabling over 2 crore Indians to begin their crypto journeys,” he mentioned within the LinkedIn submit.
What does the ESOP buyback imply?
The ESOP buyback will enable eligible workers, together with those that have already exited the corporate, to liquidate a portion of their vested inventory choices, providing them a chance to understand good points from the corporate’s development.
The initiative additionally marks one of many largest liquidity occasions by a cryptocurrency trade in India. In response to analysts quoted by CNBC, such strikes may also help retain expertise and supply workers with monetary returns on their long-term contributions.
Two crore person base in India, UAE
Based in 2018 in Mumbai, CoinDCX has grown quickly to construct a person base of over 2 crore throughout India and the UAE, positioning itself as one of many nation’s largest crypto buying and selling platforms.
Over time, the corporate has expanded its product choices past primary crypto buying and selling to incorporate funding, Web3-focused companies and digital wallets, capitalising on rising retail curiosity in digital property.
As a part of its worldwide push, the crypto trade acquired Dubai-based BitOasis within the MENA area in July 2024. Following the acquisition, BitOasis expanded operations into Bahrain in 2025.
Simply final 12 months, the crypto trade agency confronted a large safety breach after hackers worn out roughly $44 million from the platform. Nonetheless, the Mumbai-based crypto trade clarified that the assault didn’t influence wallets used to retailer buyer property.
CoinDCX, which operates below the DCX Group, is backed by world traders comparable to Pantera, Steadview Capital, Polychain Capital, B Capital Group, Bain Capital Ventures, and Coinbase Ventures, CNBC reported.