Mudrex now brings bots to crypto trade

PUNE: Mudrex, which was conceived as a crypto exchange, has launched operations as a platform that allows crypto investors to automate their trades.

The Y Combinator-backed startup has created trading bots that allow traders to automate their strategies without knowing how to code.

Mudrex cofounder Edul Patel told ET that the Reserve Bank of India (RBI) notification banning banks from dealing with cryptocurrency traders was announced just days before the exchange was to be launched.


“We were done with our beta testing when this announcement was made. So we spent some time thinking about what we could do,” he said.

The key issues around trading in cryptocurrency include picking from thousands of markets and exchanges, setting up the infrastructure to trade and the problem of trading manually in a round-the-clock global market.