Mr4Beast

2024/09/25 17:20

Indian Crypto Investment Platform Mudrex to Offer

Indian cryptocurrency investment platform Mudrex is now offering U.S. spot-bitcoin exchange-traded funds (ETFs) to Indian investors.
Mudrex will initially list four spot ETFs – BlackRock, Fidelity, Franklin Templeton and Vanguard.

Indian cryptocurrency investment platform Mudrex plans to offer U.S. spot bitcoin (BTC) exchange-traded funds (ETFs) to institutional and retail investors in India, CEO and co-founder Edul Patel said.
"This is much more valuable to institutions, as this was already available to retailers," Patel said in an interview with CoinDesk. Retail clients in the country could access spot-bitcoin ETFs through U.S. stock investing companies, but "as far as we know" we are the first in India to offer this service to institutions, Patel said. "We are certainly the first Indian crypto platform to offer this service."

In the first phase, Mudrex will list four spot ETFs – BlackRock, Fidelity, Franklin Templeton and Vanguard.
Mudrex, which is backed by Y-Combinator and based in California, has a subsidiary registered with the Intelligence Unit of India. It also has a toehold in the European Union, with licenses in Lithuania and Italy. The firm will ensure the processing of the actual transaction through broker partners in the U.S., while the Indian subsidiary will facilitate the spof-bitcoin ETF service, Patel told CoinDesk.

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