As the global pandemic has highlighted the cracks in the traditional financial system, the growth of the cryptocurrency space has been accelerated. From crypto investing and trading to participating in decentralized finance (DeFi) activities such as borrowing, lending, and staking, investors are seeking alternative places to put their money.
As the global reserve currency steadily weakens as the money supply inflates (with a staggering 23.6% of all U.S. dollars created in the last year alone) traditional low-risk assets are producing near negative yield. In contrast, investors are finding attractive yields and high-performing assets in the cryptocurrency markets.
Yet, trading cryptocurrency isn’t for everyone. Along with the chance for staggering gains comes the possibility of devastating losses. Moreover, it can be confusing for investors to learn how to get the most out of their capital and trade more efficiently to enhance their returns.
This is where Mudrex comes in. As a tried and tested algo trading software built by some of the best traders in crypto, Mudrex is building financial infrastructure legos to automate trading and investing for everyone.
Backed by industry heavyweights YCombinator and with capital raises to date of $750K across different SAFE Rounds from VC firms the likes of Better Capital, First Principle VC, Angelist, and Woodstock fund, Mudrex aims to demystify the world of crypto trading making is more accessible to a wider audience.
What Does Mudrex Offer?
Mudrex has already built 10 core lego pieces that have enabled them to ship three separate products. The first, Mudrex Strategy Builder, allows traders to collect data across 10 major exchanges, manage their accounts and portfolios, and enjoy fast intuitive order execution.
“This gives any trader the ability to create, test, and deploy their automated trading strategies without having to write a single line of code,” explains Edul Patel COO and co-founder of Mudrex.
Then, using additional lego layers, Mudrex put together a second product called Mudrex Invest which allows users to copy trade successful algo strategies as well as easily manage payments and subscriptions.
“This is a huge marketplace for retail traders wanting to leverage the experience of successful crypto traders in the space. Mudrex Invest has fueled our growth from 1k to 10k users, and over 5 million USD in assets under management” Patel adds.
Finally, the Mudrex Exchange launching next month will allow the company to provide a fully-fledged crypto brokerage platform to move fiat on-ramp, offer deep liquid spot, futures, and options order books via a Binance Broker license, and provide a secure hot and cold wallet as a service.
With these three core product offerings under its belt, Mudrex plans to automate trading and investing for everyone following the following strategies:
- Targeting India as the First Growth Market
As a global crypto brokerage platform, Mudrex aims to break into the burgeoning yet underserviced cryptocurrency market in India. Thanks to a lack of clarity surrounding legislation, many global players have held back on the Indian market. But as the banks begin to work with cryptocurrency companies again and retail traders are spending millions on crypto trading, cornering just a slice of this fiercely growing market would propel Mudrex to the next level.
With a lack of sophisticated products available for Indian traders, Mudrex looks to corner the market offering an end-to-end crypto brokerage service with products for crypto retail investors and traders that will include yield-bearing savings accounts, a mobile app, and a crypto index. “India will be a huge market for us,” Patel enthuses, “It will be our primary driver of growth and will help scale the business.”
- Tailoring an Offer to Institutional Investors
The latest rally in the cryptocurrency space has been fueled by institutional investors. BTC recently marked a new all-time high of over $42K thanks to the massive endorsements from the likes of PayPal, MicroStrategy, Guggenheim, and Square entering the space and even accumulating BTC as a balance sheet asset.
All these new entrants have helped to validate bitcoin’s legitimacy as a reserve asset and encourage further participation. According to its recent thesis, Guggenheim Investments believes that, based on its scarcity relative to gold, one BTC should be worth as much as $400,000.
Now that institutions are starting to aggressively enter the space, they need sophisticated products designed to their needs that allow them to conduct the same kind of flexible trading and hedging strategies that they can in traditional financial markets.
“Mudrex will provide a crypto investment fund offering bespoke products to funds, corporations, family offices, and HNIs for their investment needs. In fact, we already have some $15 million in capital commitments from a large family office in Norway and various HNIs across southeast Asia,” Patel affirms.
As the company completes the process of registering the entity and meeting compliance duties, Mudrex aims to be market-ready for institutions by Q2 2021.
- Partnering with Existing Players in the Ecosystem
Mudrex will reach its goal of automating trading and investing for everyone by leveraging relationships with existing players in the space. The company looks to deeply integrate into existing infrastructure such as exchanges and brokers, and exchanges to provide automated investment as a service.
Mudrex is already holding talks with several leading crypto exchanges and wallets, with the “goal of signing up at least 20,000 users by the end of 2021.”, and are well on their way with “50% month over month growth for the past seven months”.
- Automating Trading Signals
“There are currently more than 10,000 paid and unpaid Telegram channels and Discord communities where traders send signals manually and investors copy these trades manually. Clearly, there’s a glaring opportunity to make this process more efficient and provide the automated infrastructure to help them scale, from specific tools like payment and subscription, to order execution and portfolio management,” Patel states.
This scenario creates a huge bottleneck for independent traders to grow and monetize their strategies – and will set the stage to fuel Mudrex’s further growth toward the end of 2021 and beyond.
As the world awakens once more to the possibilities of cryptocurrency trading and investing, companies like Mudrex are working hard to help traders maximize returns.
By putting the financial infrastructure lego blocks together to create world-class products, Mudrex looks to conquer the growing crypto market – before setting its sights on the next asset classes – equities and FX.