CoinDCX, an Indian cryptocurrency alternate, has introduced an Worker Inventory Possession Plan (ESOP) buyback value ₹111 crore, benefiting greater than 500 present and former employees.
Sumit Gupta, the co-founder of CoinDCX, made the announcement on LinkedIn, saying the initiative is aimed toward delivering tangible worth to employees and reinforcing the corporate’s strategy to an ownership-driven tradition.
“Eight years in the past, many individuals advised us that constructing a crypto firm in India was “dangerous”. However the place others noticed danger, we noticed a elementary 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 employees, acknowledging their position in CoinDCX’s progress journey and guaranteeing they too profit from the corporate’s progress.
“That is our approach of claiming thanks to our unbelievable group: those that have been instrumental in serving to CoinDCX scale to grow to be India’s largest crypto alternate 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 possibility to grasp positive aspects from the corporate’s progress.
The initiative additionally marks one of many largest liquidity occasions by a cryptocurrency alternate in India. In line with analysts quoted by CNBC, such strikes will help retain expertise and supply employees 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.
Through the years, the corporate has expanded its product choices past primary crypto buying and selling to incorporate funding, Web3-focused providers and digital wallets, capitalising on rising retail curiosity in digital belongings.
As a part of its worldwide push, the crypto alternate acquired Dubai-based BitOasis within the MENA area in July 2024. Following the acquisition, BitOasis expanded operations into Bahrain in 2025.
Simply final yr, the crypto alternate firm confronted a large safety breach after hackers worn out roughly $44 million from the platform. Nonetheless, the Mumbai-based crypto alternate clarified that the assault didn’t influence wallets used to retailer buyer belongings.
CoinDCX, which operates underneath the DCX Group, is backed by world traders reminiscent of Pantera, Steadview Capital, Polychain Capital, B Capital Group, Bain Capital Ventures, and Coinbase Ventures, CNBC reported.
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