CoinDCX, an Indian cryptocurrency exchange, has announced an Employee Stock Ownership Plan (ESOP) buyback worth ₹111 crore, benefiting more than 500 current and former employees.
Sumit Gupta, the co-founder of CoinDCX, made the announcement on LinkedIn, saying the initiative is aimed at delivering tangible value to employees and reinforcing the company’s approach to an ownership-driven culture.
“Eight years ago, many people told us that building a crypto company in India was “risky”. But where others saw risk, we saw a fundamental opportunity to shape the future of finance,” he said, adding that the buyback intends to prove that resilience pays off.
He also noted that the buyback covers former employees, acknowledging their role in CoinDCX’s growth journey and ensuring they too benefit from the company’s progress.
“This is our way of saying thank you to our incredible team: those who have been instrumental in helping CoinDCX scale to become India’s largest crypto exchange and in enabling over 2 crore Indians to start their crypto journeys,” he said in the LinkedIn post.
What does the ESOP buyback mean?
The ESOP buyback will allow eligible staff, including those who have already exited the company, to liquidate a portion of their vested stock options, offering them an opportunity to realise gains from the company’s growth.
The initiative also marks one of the largest liquidity events by a cryptocurrency exchange in India. According to analysts quoted by CNBC, such moves can help retain talent and provide employees with financial returns on their long-term contributions.
Two crore user base in India, UAE
Founded in 2018 in Mumbai, CoinDCX has grown rapidly to build a user base of over 2 crore across India and the UAE, positioning itself as one of the country’s largest crypto trading platforms.
Over the years, the company has expanded its product offerings beyond basic crypto trading to include investment, Web3-focused services and digital wallets, capitalising on rising retail interest in digital assets.
As part of its international push, the crypto exchange acquired Dubai-based BitOasis in the MENA region in July 2024. Following the acquisition, BitOasis expanded operations into Bahrain in 2025.
Just last year, the crypto exchange firm faced a massive security breach after hackers wiped out approximately $44 million from the platform. However, the Mumbai-based crypto exchange clarified that the attack did not impact wallets used to store customer assets.
CoinDCX, which operates under the DCX Group, is backed by global investors such as Pantera, Steadview Capital, Polychain Capital, B Capital Group, Bain Capital Ventures, and Coinbase Ventures, CNBC reported.
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