CoinDCX announces Rs 111 Cr ESOP buyback for current and former employees

Crypto exchange CoinDCX has announced its largest-ever ESOP (Employee Stock Ownership Plan) liquidity event worth Rs 111 crore. The strategic buyback will enable wealth creation for over 500 current and former employees of the Mumbai-based company.

The development comes four months after CoinDCX received an undisclosed investment from Coinbase at a post-money valuation of $2.45 billion. The company’s latest major funding round was in April 2022, when it raised $135 million at a valuation of over $2 billion.

Commenting on the buyback, Sumit Gupta, co-founder of CoinDCX, said, “The Indian crypto industry has navigated an incredibly demanding landscape, particularly as we work toward a more defined regulatory framework. Yet, despite these headwinds, CoinDCX has emerged stronger and more resilient than ever. This is a testament to the unwavering trust of over 2 crore customers in India and the UAE, and the steady support of our investors and ecosystem partners.”

Founded in 2018, CoinDCX offers crypto trading and investment services to more than 20 million users in India. The platform supports over 500 crypto assets and 200 trading pairs across products tailored for both retail and institutional investors. In 2024, the company entered the Middle East and North Africa (MENA) region through the acquisition of BitOasis.

CoinDCX operates under the DCX Group, which also includes CoinDCX Ventures and Okto, its Web3 wallet platform with over 20 million users.

This is the fourth major ESOP buyback announced in 2026. Recently, Cashfree rolled out an ESOP buyback for over 400 employees, healthtech firm Innovaccer completed a buyback worth about $75 million, and SaaS unicorn BrowserStack announced a $125 million ESOP liquidity programme.

For context, ESOP buyback activity in 2025 remained subdued at just over $75 million. In comparison, total ESOP buybacks, payouts, and liquidity stood at around $190 million in 2024, significantly lower than $802 million in 2023, $440 million in 2021, and $200 million in 2022.