OPEN APP
Home / Markets / Cryptocurrency /  Mudrex launches mutual fund like investment product in crypto
Listen to this article

NEW DELHI : Global crypto asset management platform, Mudrex, has launched Coin Sets, a mutual-fund style crypto investment product for retail investors.

Coin Sets are baskets of crypto tokens based on a theme. For example, a Coin Set called ‘DeFi 10’ is a basket of the top 10 decentralized finance (DeFi) tokens. Similarly, a Coin Set called ‘NFT’ is a basket of the top six non-fungible token (NFT) projects.

The products are created and managed by experts from the Mudrex team. The asset management platform also takes care of allocation, order execution and periodic rebalancing.

As per Mudrex, which is backed by Y Combinator and Nexus VP, the product will help investors manage potential risks by diversifying their portfolios in different cryptocurrencies.

Commenting on the launch of ‘Coin Sets’, Edul Patel, chief executive officer and co-founder of Mudrex, said: “Coin Sets will allow investors to mitigate risk by diversifying investment in cryptocurrencies. It is a mutual fund-like product with a better risk-reward ratio. The product is designed to expand retail participation in crypto investment, curated suitably for investors who look at crypto investments as long-term wealth creation."

The US-headquartered and Bengaluru-based fintech startup had recently announced a funding round of $2.5 million led by Nexus Venture Partners, with participation from Village Global, Kunal Shah, Anand Chandrashekharan, and Anjali Bansal. The company has earlier raised $750,000 from Y Combinator, Better Capital, Woodstock Fund, and angels like Nitin Sharma and Anupam Mittal.

The platform currently hosts 40,000 active users with assets under management (AUM) of $15 million with a growth rate of 30% month-of-month (MoM) over the last 10 months. Mudrex has users in over 90 countries.

Launched in 2018, Mudrex was founded by Edul Patel (CEO), Alankar Saxena (CTO), Rohit Goyal (VP, Defi), Prince Arora (VP, Engineering).

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout