Mudrex, a Bengaluru and San Francisco-based Y-Combinator-backed, global crypto investing platform, launches crypto gift cards for the occasion of Raksha Bandhan.
Mudrex’s crypto gift cards allow users to give their loved ones the exciting world of cryptocurrencies, opening doors to potential investment opportunities and financial growth. The minimum permissible gift amount for a single transaction is Rs 500, while the highest allowable gift amount per transaction is Rs 50,000, exempt from recipient taxation. The expiration date of the gift card will be set to one year from its creation date.
During testing the feature, Mudrex’s crypto gift cards have already garnered substantial interest, with over 5,000 users pre-booking these cards for the upcoming festival. The online gift card feature spans across 90+ countries, providing a global reach, while physical cards are available exclusively in India. The senders can gift Bitcoin, Ethereum, and PAX Gold to their loved ones.
The launch of crypto gift cards underscores Mudrex’s dedication to creating meaningful connections through technology and innovation. As the crypto industry continues to captivate global audiences, Mudrex remains at the forefront, consistently delivering solutions that cater to the evolving needs of its users.
Commenting on the same, Mr. Edul Patel, CEO and Co-founder of Mudrex, said, “We are excited to announce the launch of crypto gift cards in celebration of Raksha Bandhan. As we honor the special connection between siblings, there’s no better method to commemorate this occasion than by offering a means to attain financial empowerment through cryptocurrencies”.
About Mudrex:
Mudrex is a US-headquartered and Bengaluru-based fintech start-up launched in early 2018. It is a dynamic platform that has revolutionized the face of cryptocurrency investing with its product gamut, simplifying the journey of retail investors. It was co-founded by Edul Patel (CEO), Rohit Goyal (Vice President-Defi), Prince Arora (Vice President-Engineering) and Alankar Saxena (CTO), who have graduated from IIT Bombay. The company advocates the idea of investing across themes and sectors, giving rise to its flagship product called ‘Mudrex Coin Sets’. Through Coin Sets, investors can hold different tokens around the theme across the crypto ecosystem. It is an entirely automated platform that offers hassle-free onboarding of users. Investors can start their crypto journey with as low as $5 (INR 500). The platform also allows them to invest in Coin Sets regularly through its SIP feature. It is a multi-dimensional company that caters to the varied needs of all its users. Another major offering, ‘Crypto-as-a-service’, is one-of-a-kind API-based enterprise tech. The service enables traditional and crypto-specific brokers, portfolio management services, fintech, etc., to provide reliable and secure crypto investment products to their user base. The company aims to provide individuals access to low-risk and high-yield investment funds reflected through the 2.5 Lakh global users that it has gained since its launch, making it the world’s Largest Crypto Index Investing Platform. Of these users, 4% hail from India, whereas the rest are spread across the US, Europe and Southeast Asian markets. Mudrex has clocked 2400% user growth at the current growth rate in a brief period.
