Blockchain startup Newrl eyes 10% tokenisation market share by 2023

A public blockchain for decentralised finance, Newrl has developed tokenisation-based equity solutions for unlisted companies offering ESOPs

Newrl, a public blockchain for decentralised finance (DeFi) founded in 2019 by Swapnil Pawar, aims to bring blockchain into mainstream finance. It has come up with tokenisation-based equity solutions for unlisted companies.

In 2021, startups bought back took ESOPs worth Rs 3,000 crore. Despite the existence of over 100 unicorns in India, trading in unlisted equity mostly happens when a company floats an initial public offering (IPO).

Employee stock ownership plans or ESOPs are a way for companies to motivate employees and retain quality talent. But while employees get rewarded for their contributions, they cannot cash out these ESOPs until