Crypto asset startup Mudrex, has introduced ‘Coin Sets,’ a mutual-fund-like crypto investment product aimed at retail investors. Nexus Venture Partners and Y Combinator have invested in the Bengaluru and San Francisco-based venture.
Mudrex, which was founded in 2018 by Edul Patel, Rohit Goyal, Alankar Saxena, and Prince Arora, helps to streamline crypto investing for retail investors by packaging crypto tokens in a manner comparable to current investment products such as mutual funds and exchange-traded funds.
Coin Sets are ‘baskets’ that include several crypto tokens that all fit under a specific category or concept. The ‘DeFi 10’ Coin Set, for example, has the top ten DeFi tokens, while the ‘NFT’ Coin Set is a collection of the top six NFT projects. Coin Sets are handled by Mudrex’s specialists in the same way as mutual funds are managed by experienced money managers.
Concerns about stability, risks, and security are among the most important barriers to mainstream crypto adoption. Mudrex manages possible risks by allocation, executing orders, rebalancing, and diversifying these crypto portfolios.
“It is a mutual fund-like product with a better risk-reward ratio,” said Mudrex co-founder and CEO Edul Patel, commenting on the launch of Coin Sets. “The product is designed to expand retail participation in crypto investment, curated suitably for investors who look at crypto investments as long-term wealth creation.”
Several crypto exchanges and startups have launched lending and investing options in addition to their primary offerings in recent times.