Updated February 13th, 2024 at 12:34 IST
Mudrex launches Mudrex Prime to cater to institutional investors and HNIs
Mudrex Prime boasts an expansive asset portfolio covering major cryptocurrencies such as USDT, USDC, BTC, and ETH, among others, ensuring immediate liquidity.
- 2 min read
Mudrex Prime launched: Mudrex, a crypto investment platform, has unveiled Mudrex Prime, its specialised Over-the-Counter (OTC) services division to serve institutional investors and high-net-worth individuals (HNIs). This new offering follows a successful pilot phase conducted in the final quarter of 2023, where Mudrex Prime facilitated transactions exceeding $100 million for over 200 institutions across India and the European Union.
Mudrex Prime boasts an expansive asset portfolio covering major cryptocurrencies such as USDT, USDC, BTC, and ETH, among others, ensuring immediate liquidity and fulfilment of large orders at competitive OTC rates. Currently supporting leading fiat currencies including INR, GBP, EUR, AED, SGD, and CHF, Mudrex Prime enables users to trade premium assets with no transaction fees and minimal spreads.
According to the company, the OTC services provided by Mudrex Prime adhere strictly to regulatory guidelines, with the platform being registered with the Financial Intelligence Unit (FIU) in India and holding a Virtual Asset Service Provider license in the European Union.
Rigorous KYC(B)/AML checks are implemented to ensure the integrity and security of all transactions, the company stated.
Edul Patel, CEO and Co-founder of Mudrex expressed enthusiasm about the launch, and said, “We are incredibly excited to introduce Mudrex's OTC services, a significant step towards fulfilling the evolving needs of institutional and family businesses in the crypto space. We aim to empower our users, whether they are seasoned institutions or individuals, with the flexibility to trade across a diverse range of crypto assets. The launch of OTC services is a testament to our commitment to serve all types of clients”.
The company, founded by Edul Patel, Alankar Saxena, Rohit Goyal, and Prince Arora, is backed by Y-Combinator and headquartered in the US with operations based in Bengaluru, India.
Published February 13th, 2024 at 12:32 IST