Indian Crypto Investment Platform Mudrex Extends Footprints to Italy

Indian cryptocurrency investment platform Mudrex has successfully registered to operate in Italy, according to CEO and co-founder Edul Patel.

"Half our team is working on international expansion," said Patel.

Mudrex has also started the approval process to operate in the U.K., he said.

Mudrex was approved for registration with Italy's Organismo Agenti e Mediatori (OAM) on Sep. 1, 2023. OAM is the local legal entity which maintains lists of financial agents operating in the country subject to the nation's anti-money-laundering requirements.

Mudrex has only one million registered users but is one of India's largest crypto platforms that offer index investing options through sets of coins called Coin Sets as an alternative to speculative trading.

According to Mudrex, the Italian foray was made easier because the company had already fulfilled the requirements to operate in the EU after obtaining a licence in Lithuania less than a year ago.

"Now we can offer our investment products via all other registered entities like banking partner apps and we are in talks with them," Patel said.

(Source: CoinDesk)