Synopsis: CoinDCX, India’s leading crypto unicorn, has announced an ESOP buyback worth Rs. 111 crore, benefiting over 500 current and former employees. This article examines the buyback, the company’s financial performance, and its evolution from a domestic startup to a global digital asset player.
CoinDCX has announced its largest-ever Employee Stock Option Plan (ESOP) buyback, amounting to Rs. 111 crore, to be distributed among over 500 current and former employees. In an official statement, the company described the buyback as a tangible share in the value created by the organisation one that extends to former employees as well, on the grounds that their contributions remain significant regardless of their departure.
The company framed the liquidity event as a reflection of its financial strength, reinforcing its standing as one of India’s most prominent crypto firms.
Funding and Valuation
CoinDCX has raised substantial capital over the years, cementing its unicorn status. The company received funding from prominent investors including Pantera Capital, B Capital Group, and Coinbase Ventures, with total disclosed funding standing at around $244 million. An additional undisclosed investment from Coinbase pushed its valuation to approximately $2.45 billion, making it one of the most valuable crypto startups in India.
Financial Performance
On the revenue front, CoinDCX has demonstrated consistent growth. Its operating revenue rose by 43%, from Rs. 391.8 crore to Rs. 559.6 crore, while net profit stood at Rs. 1.7 crore a 15% increase over the previous year. The company primarily earns through transaction fees charged for facilitating cryptocurrency purchases and sales on its platform.
The CoinDCX Story
Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX was built with a clear mission: to make cryptocurrency accessible to every Indian. The platform has since grown to serve over 2 crore registered users, with quarterly trading volumes exceeding Rs. 2.4 lakh crore figures that speak to both the scale of adoption and the depth of activity on the platform.
The BitOasis Acquisition
In 2024, CoinDCX made a significant move beyond Indian borders through the acquisition of BitOasis, a licensed digital asset broker-dealer operating across the Middle East and North Africa (MENA) region. Building on this, BitOasis expanded into Bahrain in 2025, further consolidating CoinDCX’s international footprint. The acquisition signals the company’s ambition to tap into the fast-growing demand for digital assets across the MENA region.
Also Read: Crypto CEO Sentenced to 20 Years for $200M Bitcoin Ponzi Scheme
ESOP Buybacks: A Growing Trend in India’s Startup Ecosystem
CoinDCX’s buyback is part of a broader wave sweeping India’s startup landscape. In 2025 alone, approximately 12 Indian startups have executed ESOP buybacks, collectively rewarding around 9,200 employees with nearly Rs. 1,409 crore (approximately $158 million).
SaaS unicorn BrowserStack, for instance, announced its third buyback programme in January 2025, worth $125 million (roughly Rs. 1,050 crore). These programmes have become a meaningful mechanism for startups to share financial success with their teams particularly as equity forms an increasingly central part of employee compensation packages.
ESOP Deal?
CoinDCX’s Rs. 111 crore ESOP buyback marks a significant milestone not just for the company, but for India’s maturing startup ecosystem at large. By ensuring that both current and former employees can realise the value of their equity, the company is reinforcing its commitment to inclusive growth. Coupled with strong revenue performance, a rising valuation, and expanding global presence, CoinDCX appears well-positioned for its next chapter in the digital asset market.
Written by Parvati Anilkumar
