Mudrex, a cryptocurrency asset management firm, has launched its new Coin Sets investment instruments, the crypto firm is expected to offer investment options for DeFi and NFT assets.
The new product allows investors to diversify their asset portfolio among a variety of high-performing DeFi assets as well as nonfungible tokens, or NFTs.
In an often turbulent market, the niche finance model encourages risk distribution by letting investors gamble on the value proposition of an entire sector rather than the particular potential of a single asset. On a regular basis, the asset basket is rebalanced to reassess the risk and potential for investors.
This is the first time a product of this type has been introduced to the general market, as opposed to mutual funds with identical design and functionality that are only available to high-net-worth individuals and institutional investors.
The San Francisco-based business, which was founded in January 2018, is in the midst of a growth spurt, with over 40,000 customers and more than $15 million in assets under management.
Mudrex Invest, a digital asset trading platform aimed to give automated expert trading services to common people, was launched in April 2020.
On Aug. 10, it was revealed that the company had received a $2.5 million seed fundraising round led by Nexus Venture Partners, with contributions from Village Global and Kunal Shah, among others.
The firm’s recent acquisition of funds is expected to contribute to the expansion of its operational workforce, as well as the deployment of new products and services.
Edul Patel, the co-founder of Mudrex, spoke about the target demographic for the launch of the new product:
The demand for a simple to invest product like Coinsets is so universal that we have a lot of interest from across demographics. The product is especially attractive to new entrants into crypto who are quickly overwhelmed with the information overload in the asset class.
Patel also highlighted a unique feature of the Coin Set product that encourages a self-assembling approach to portfolio construction, as well as revealing that MintingM, one of India’s largest portfolio management systems, has adopted the model for its flagship product xMINT.
“One very interesting feature that we have enabled is letting pro traders/creators and influencers build their own Coin Sets and distribute it to their own communities to unlock wealth creation for theme.”
