crypto unicorn CoinSwitch Kuber announced the completion of its first Employee Stock Ownership Plan (ESOP) buyback

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With its first buyback, CoinSwitch has become one of the only two unicorn crypto startups from India, alongside crypto exchange CoinDCX, to announce ESOP buyback.

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Ashish Singhal, CEO and Co-founder of CoinSwitch said - "The equity buyback programme

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is a small effort to acknowledge our employees' contribution to the phenomenal growth of CoinSwitch."

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"Over 15 million users trust CoinSwitch in their investment journey, making us the largest crypto app

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We meet and exceed our targets in India because of the amazing team and shall continue to launch similar liquidity events as part of our commitment to creating wealth for all

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In September 2021, ConSwitch became a crypto unicorn and raised $260 million in the Series C funding round from American venture capital firms Coinbase Ventures and Andreessen Horowitz

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Investors including Tiger Global, Sequoia Capital, Ribbit Capital, and Paradigm were also part of the Series C funding.

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The number of registered users on the CoinSwitch app doubled in the last year — from one million to 15 million

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and now, it intends to add more asset classes and financial products to its platform in order to become a wealthtech hub in the country.

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The company aims to 'make money equal for all' and has been working to educate and enable a secure and safe platform for individuals to make informed decisions around crypto

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