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Mudrex witnesses surge in Crypto Deposits following FIU Notices to Crypto Exchanges

Over $ 1Mn in deposits and  10,000 New Users Flock to Mudrex, drawn by zero-fee crypto deposits

Mudrex, the globally renowned crypto investment platform headquartered in Bengaluru and San Francisco, witnesses a surge of $1 million in crypto deposits from prominent exchanges, including Binance, following the FIU warning notice to nine overseas crypto exchanges for non-compliance with anti-money laundering law. The FIU has also requested the Ministry of Electronics and Information Technology to block their websites on Thursday.

In wake of the FIU’s directives, Mudrex saw an influx of crypto deposits. Among the depositors, a majority have invested amounts exceeding $1000, showcasing the platform’s appeal to both seasoned investors and newcomers alike. Mudrex successfully onboarding over 10,000 new users in the past four days, who were drawn to the platform for its user-friendly interface, seamless experience, and the unique advantage of zero fees on crypto deposits. 

Breaking down the user demographics, Mudrex reports that 60% of the new users hail from tier 1 regions, while 40% belong to tier 2 locations. This diverse user base underscores Mudrex’s widespread global acceptance and its ability to cater to the needs of investors across different geographies.

Mudrex has emerged as the platform of choice for crypto enthusiasts, garnering significant attention and trust from users globally. The platform continues to prioritize innovation and compliance, ensuring that users can capitalize on the opportunities presented by the dynamic world of cryptocurrencies. The platform is also one of the earliest to register with FIU in India. Mudrex also obtained virtual asset service provider license in the European Union and Organismo Agenti e Mediatori (OAM) registration in Italy. 

Commenting on this, Mr Edul Patel, CEO & Co-founder of Mudrex said, “The Government of India has always supported fostering innovation and promoting responsible growth within the crypto industry. Indian investors should always aim to have their assets in FIU compliant entities as it gives them a localized experience and more importantly a way for legal recourse against fraudulent activity on their account. At Mudrex, we have created a seamless flow for users to transfer their funds from other exchanges adhering to the highest safety and compliance standards”. 

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