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When Edul Patel and his co-founders first launched Mudrex, a crypto investment platform, it was just to make a few bucks off their crypto investments, not from a business perspective. did. But then I realized that the incredible power of blockchain and cryptocurrencies has leveled the playing field and given everyone a chance to create wealth. But the problem was that only the tech-savvy prospectors were seizing the riches. The everyday one? I was shut out and left behind. ”
Fast forward to 2024, and the startup claims to be the world’s largest cryptocurrency index investment platform. But this wasn’t Patel’s first rodeo. He previously co-founded Niffler and sold it to Tapzo, which was later acquired by Amazon. And while his contemporaries struggle to keep their businesses afloat within the bounds of legality, Patel and his team are emerging as leaders in the field. “In our wild entrepreneurship journey, our first dream was to launch a crypto exchange for Indians. However, just 10 days before we made our major debut, the RBI Did that stop us? Not an opportunity. We quickly pivoted and instead switched our focus to creating a global investment platform.” said Edul Patel, CEO and co-founder of Mudrex.
While 2023 was a down year for cryptocurrencies, Patel defines it as a “year of tenacity” for Mudrex. His B2C products for the company include coin sets, coins, and vaults, and his user base is 70% in India, 20% in Italy, and the rest around the world. He also launched his Saber.Money, his B2B product to facilitate fiat to cryptocurrency conversion.
Mr. Patel is a strong believer in complying with regulations and has been proactive in doing the same. “Our successful regulatory compliance in the FIU registration in India and in the European Union (particularly the OAM registration in Italy) underlines our tenacity in navigating complex situations.”Regulatory situation. ”In fact, in FIU IND’s recent forex notification, Mudrex was one of only two players to witness a surge in deposits and new users.
Mudrex’s future plans include expanding into the EU market and building a partnership with Saber.Money.
Fact sheet:
Number of co-founders: 4
Number of employees: 80 people
Start year: 2018
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