EXCLUSIVE: CoinDCX plans to hire more than 2,000 people this year — and they are not just looking at coders
- Indian cryptocurrency exchange
CoinDCXis looking to grow its team by 10 times this year.
- In an exclusive interview with Business Insider, the company’s COO disclosed that the exchange can absorb 300 people tomorrow itself.
- CoinDCX is looking to hire across the board, from coders and developers to marketing and product development experts.
If you give me the same number of people that we already have in the company today, we can absorb them. Like, literally tomorrow. We have enough for them to do.
The start-up, which became the first Indian crypto company to attain ‘unicorn’ status in August, may not be planning to launch an initial public offering (IPO) anytime soon but is steadfast in its intention to build its team from 300 to 3000.
And, the company is looking to onboard more than just coders. “We’re hiring across all roles — tech, non-tech, product, marketing, all of those. The team has already grown 15x this year ,” explained Gupta.
The company’s employee ratio has seen a growth of 230% from January to December 2021, with a 3:1 male to female ratio within the organisation.
Who is CoinDCX looking to hire?
Companies like CoinDCX are not pure-play blockchain. So while they do need coders and developers who specialise in languages like Solidity and Rust, they also have similar needs as any other company — marketing, operations, product development and consumer support.
We pretty much lie at the intersection of what happens in the regular consumer internet world and the blockchain world.
“For example, somebody who leads payments products for us, joined initially as quality assurance,” explained Gupta. One critical way this happens is simply exposure. On the one hand, an employee is kept up to speed on their present skills. On the other hand, CoinDCX tries to ensure that they are also exposed to enough team members outside their regular function and are able to learn from that.
How is CoinDCX bridging the supply-demand gap?
According to the technology lobby group NASSCOM, India’s crypto-tech market is expected to hit $241 million by 2030, potentially creating 877,000 jobs. However, as things stand, not too many people are proficient in the skills that the cryptocurrency and blockchain industry requires.
Even so, according to data collected by Dappros in 2018, India had the second-largest number of blockchain developers in the world after the United States. And, the bigger potential lies within the overall pool of 5.8 million developers in the country, according to GitHub.
CoinDCX, as a crypto exchange, doesn’t have the infrastructure to create massive reskilling programs in-house in order to attract the right talent. However, that doesn’t mean that they can’t outsource the task.
Correction: We’re hiring across all roles — tech, non-tech, product, marketing, all of those. The team has already grown 15x this year ,” was incorrectly attributed to Ramalingam Subramanian, the Chief Marketing Officer (CMO) at CoinDCX. It has been changed to Mridul Gupta, the Chief Operating Officer (COO) at CoinDCX.
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