Mudrex launches mutual fund as a crypto investment product

[ad_1]

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 themed baskets of crypto tokens. For example, a coin game called DeFi 10 is a basket of the 10 best decentralized finance (DeFi) tokens. Likewise, a coin game 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.

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

Commenting on the launch of Coin Sets, Edul Patel, CEO and Co-Founder of Mudrex, said: Coin Sets will allow investors to mitigate risk by diversifying their investments into cryptocurrencies. It is a product similar to a mutual fund with a better risk / return ratio. The product is designed to expand retailer participation in crypto investments, appropriately designed for investors who view crypto investments as long-term wealth creation. “

The US-based, Bengaluru-based fintech start-up recently announced a $ 2.5 million funding round led by Nexus Venture Partners, with the participation of Village Global, Kunal Shah, Anand Chandrashekharan and Anjali Bansal. The company has already 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 $ 15 million in Assets Under Management (AUM) with a 30% month-to-month (MoM) growth rate over the past 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 address

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our app now !!

[ad_2]