This B2B offering will essentially allow enterprises to offer users a simple and secure crypto gateway

Mudrex, the San Francisco-based global crypto asset management platform, today launched an API-based Crypto-as-a-Service solution. This offering enables both traditional and crypto-specific brokers, portfolio management services, fintechs, etc to provide reliable and secure crypto investment products to their user base. With the launch of this product, Mudrex further solidifies its overarching vision to simplify crypto and present it as a reliable investment option to users across the globe.

‘Crypto-as-a-Service’ is a product that offers KYC, regulatory and compliance monitoring to brokerages. Custody, and processing of the cryptocurrency will be administered by Mudrex. The technological framework is entirely constructed and supported by the global platform. Mudrex is dedicated to bringing newer offerings in the crypto investment space that will allow users to access products in a systematic manner.

Additionally, it enables users to transact in cryptocurrencies using their preferred fiat currency, seamlessly allowing users to withdraw funds from a bank account to purchase cryptocurrency and convert them back into fiat currency in bank deposits. Through Custody and Wallet Services, the APIs will enable businesses to build a user-friendly custodial wallet platform.

Using this service, clients will be able to build a single central wallet for their company or an endless number of wallets for each of their users. At launch, Mudrex will support 70 different countries. This unique offering from Mudrex will provide a seamless experience for newer businesses venturing into the cryptocurrency sphere.

Commenting on the launch, Edul Patel, CEO & Co-founder of Mudrex, said, “Since inception, we at Mudrex have been at the forefront of providing a simple & secure infrastructure to users with value-added offerings for long term wealth creation. Mudrex’s latest addition is meant for B2B enterprises and is built in tandem with our larger mission. We observed that entering a growing market and providing cryptocurrency related products, considering all the legal, security, and compliance work, was a daunting task. ‘Crypto as a service’ is set to ease these complexities for entities who have an appetite for expansion. Businesses stand to benefit from the APIs as it offers a quicker, easier, and cost-effective transaction process and truly democratises access to crypto.

“Imagine credit card companies offering crypto rewards, investment platforms offering crypto investments, SIP style crypto savings products and much more. We are already working with multiple crypto and traditional finance fintech firms on different pilot offerings and on track to launch our first integration with a large investment management service by Feb 2022."

More details about the offering can be found on the Mudrex website

At present, Mudrex supports over 1500 crypto tokens alongside their ‘Mutual Fund’ style crypto offering, Coin Sets. The platform currently hosts over 50K active users worldwide, and has processed over $3 Bn of trading volume. The AUM stands at $15 million with a growth rate of 25% m-o-m over the last 10 months. Earlier this year, Mudrex raised a pre-seed round of $2.5 million led by Nexus Venture Partners, with participation from Village Global, Kunal Shah, Anand Chandrashekharan, and Anjali Bansal. Prior to that, the company raised $750,000 from Y Combinator, Better Capital, Woodstock Fund, and angels like Nitin Sharma and Anupam Mittal.

About Mudrex:

Launched in 2018, Mudrex has the vision of making crypto investing simple and long-term so that retail investors can benefit from the massive wave of wealth creation. Founded by Edul Patel (CEO), Alankar Saxena (CTO), Rohit Goyal (VP, Defi), Prince Arora (VP, Engineering), the Y-Combinator backed enterprise has established a robust investing platform that can be used by both newcomers and seasoned traders. The US-headquartered fintech startup aims to be the largest asset management platform for crypto investments.


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