Mudrex sees surge in crypto deposits after FIU notices to crypto exchanges
“In the wake of the FIU’s directives, Mudrex saw an influx of crypto deposits. Among the depositors, a majority have invested amounts exceeding $1000, showcasing the platform’s appeal to both seasoned investors and newcomers alike,” Mudrex stated in a release.
Mudrex successfully onboarding over 10,000 new users in the past few days, who were drawn to the platform for its user-friendly interface, seamless experience, and the unique advantage of zero fees on crypto deposits, Mudrex said.
Breaking down the user demographics, Mudrex reported that 60% of the new users hail from Tier 1 regions, while 40% belong to Tier 2 locations. This diverse user base underscores Mudrex’s widespread global acceptance and its ability to cater to the needs of investors across different geographies, the crypto platform stated.
Edul Patel, CEO & co-founder of Mudrex, commented on the situation, saying, “The Government of India has always supported fostering innovation and promoting responsible growth within the crypto industry. Indian investors should always aim to have their assets in the FIU compliant entities as it gives them a localized experience and more importantly a way for legal recourse against fraudulent activity on their account. At Mudrex, we have created a seamless flow for users to transfer their funds from other exchanges adhering to the highest safety and compliance standards.”Launched in 2018, Mudrex has the vision of making crypto investing less risky and long-term so that ordinary investors can benefit from the massive wave of wealth creation. Founded by Edul Patel, Alankar Saxena, Rohit Goyal, Prince Arora the Y-Combinator-backed enterprise has established a robust investing platform that can be used by both newcomers and seasoned investors. The US-headquartered and Bengaluru-based fintech startup aims to be the largest asset management platform for crypto.
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