crypto investment platform provider Mudrex aims to become the largest crypto asset manager in the next five years.
“Mudrex already provides investment products to about 500,000 users in India. We want to grow this, scale up AUM, and become the largest crypto asset manager in the next five years,” says Edul Patel, CEO and Co-founder of the crypto investment platform.
Currently, Mudrex has nearly 1 million users onboard, and it expects to take this number to 5 million by the end of 2025.
Edited excerpts from an interview with ETMarkets:
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View Details»The calendar year 2023 has been a roller-coaster for Bitcoin and the rest of the crypto market. How are you reading this volatility?
In 2022, the cryptocurrency market faced several challenges that impacted its overall performance. Additionally, the market-specific issues like macroeconomic factors such as rising interest rates and inflation further contributed to a less favourable sentiment among investors across the board, be it traditional markets or cryptocurrencies.
However, there were positive developments in the crypto market, such as regulatory clarity and Blackrock, Fidelity, and other major financial players filing for Bitcoin spot ETFs. Furthermore, Ripple and Grayscale successes in lawsuits against the SEC boosted confidence in the market. With these developments, we are likely to see other giants also applying for Bitcoin and Ether ETFs in the coming months.
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