Y Combinator and Nexus VP-backed Mudrex, a global crypto asset management platform launches ‘Coin Sets’. Through Coin Sets, for the first time, retail investors will get the ability to invest in a variety of Mutual-fund style crypto investment products earlier only accessible to the HNIs and institutions. With this product, Mudrex furthers its vision of simplifying investing in crypto by building an easy-to-use product for retail investors.
Coin Sets are baskets of crypto tokens based on a theme and let users invest in ideas that they believe in to grow their wealth in the long run. For example, a Coin Set called ‘DeFi 10’ is a basket of the top 10 DeFi tokens. Similarly, a Coin Set called ‘NFT’ is a basket of the top 6 NFT projects. The coin sets are created and Managed by experts from the Mudrex team. Mudrex also takes care of allocation, order execution, and periodic rebalancing to make the user experience seamless. The product will help investors manage potential risks by diversifying their portfolios in different cryptocurrencies.
Commenting on the launch of ‘Coin Sets’, Edul Patel, CEO & Co-founder of Mudrex, said, “As a leading global player in crypto, Mudrex is constantly looking to bring ease and simplify investing in crypto for newer investors. Coin Sets is one such product that 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 announcement comes in quick succession of Mudrex closing its seed round. Mudrex 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 40K active users. The AUM stands at $ 15 million with a growth rate of 30% m-o-m over the last 10 months. Today, Mudrex is a global platform with users from over 90 countries.