Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX claims to have over two crore users and has a presence in the Middle East and North Africa region as well.Cryptocurrency exchange CoinDCX has announced a buyback for employee stock ownership plans (ESOPs) amounting to ₹111 crore, marking the largest liquidity event it has undertaken so far.
The buyback will provide liquidity to over 500 current and former employees, the company said in a statement on Friday.
Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX claims to have over two crore users and has a presence in the Middle East and North Africa region as well.
“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,” said co-founder Gupta.
CoinDCX raised an undisclosed amount of funding from existing investor and global cryptocurrency exchange operator Coinbase in October last year.
The funding by Coinbase valued the company at $2.45 billion.
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