Mudrex Introduces DeFi Based Mutual Fund Comparable Investment Product October 19, 2021 October 19, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 19, 2021 by Kelly Cromley

Mudrex Introduces DeFi Based Mutual Fund Comparable Investment Product

An investment product for individual investors in the form of a cryptocurrency mutual fund has been introduced by worldwide cryptocurrency asset management platform Mudrex. The fund, named Coin Sets, offers crypto tokens grouped together according to a common topic.

As an illustration, the ‘DeFi 10’ Coin Set has the top ten decentralized finance (DeFi) coins available today. The ‘NFT’ Coin Set, on the other hand, is a collection of the six most prominent non-fungible token (NFT) initiatives. Experts from the Mudrex team develop and administer the goods.

Allocation, order execution, and periodic rebalancing are all handled by the asset administration system. In accordance with Mudrex, which is supported by Y Combinator and Nexus VP, the solution will assist investors in managing possible risks by diversifying their cryptocurrency holdings.

Edul Patel, CEO and co-founder of Mudrex, commented on the introduction of ‘Coin Sets,’ saying: “Coin Sets will enable investors to minimize risk by diversifying investments in cryptocurrencies. Because of its superior risk-reward ratio, this is more like a mutual fund than a traditional one.”

The product’s goal is to increase the number of retail investors in crypto, and is tailored to meet the needs of such investors. A $2.5 million financing round headed by Nexus Venture Partners included Village Global, Kunal Shah, Anand Chandrashekharan, and Anjali Bansal, the startup’s US-based and Bengaluru-based headquarters.

A total of $750,000 has been funded thus far from Y Combinator, Better Capital, Woodstock Fund, and angel investors such as Nitin Sharma and Anupam Mittal. On its present state, the platform has 40,000 active users and $15 million in assets under management (AUM), growing at a 30 percent MoM pace over the past ten months. Over 90 nations utilize Mudrex. Edul Patel (CEO), Alankar Saxena (CTO), Rohit Goyal (VP, Defi), and Prince Arora launched Mudrex in 2018. (VP, Engineering).

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.