New Delhi Mudrex, a global crypto asset management platform, has launched Coin Set, a mutual-fund style crypto investment product for retail investors.
Coin sets are baskets of themed crypto tokens. 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.
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 Set’, Edul Patel, Chief Executive Officer and Co-Founder of Mudrex, said: “Coin Set will allow investors to reduce risk by diversifying investing in cryptocurrencies. This improved risk-reward ratio. Vala is a mutual fund-like product. The product is designed to expand retail participation in crypto investments, with a suitably curated approach for investors who view crypto investing as a form of long-term wealth creation.”
The US-headquartered and Bengaluru-based fintech startup recently announced a $2.5 million funding round led by Nexus Venture Partners, with participation from Village Global, Kunal Shah, Anand Chandrasekaran and Anjali Bansal. The company has previously 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 30% month-on-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).
Don’t miss a story! Stay connected and informed with Mint.
download
Our App Now!!
.