Mudrex launches payments infra for Indian Web3 businesses

Their clients include FireDrops by Flipkart, IndiGG, Polygon, ANQ Finance, Colexion, Acme and Rage Fan

Published: Oct 19, 2023 05:39:27 PM IST

Image: Shutterstock

Crypto investments platform Mudrex is launching Saber.Money, a B2B crypto wallet infrastructure and payment gateway for Indian Web3 businesses. Through this venture, Mudrex intends to offer Web3 companies a robust payment infrastructure that simplifies handling crypto payments.

Saber.Money will support popular payment banking methods like IMPS, NEFT, UPI and RTGS. It aims to support faster transactions while adhering to Indian compliance and regulations, including tax handling and KYC support.

Highlighting the features of Saber.Money, the CEO of Mudrex, Edul Patel, said, “Saber.Money offers the best conversation rates in India and easy integration for applications to accept fiat-to-crypto deposits and withdrawals seamlessly.”

The target for Saber.Money includes Web3 gaming firms, remittance companies and crypto exchanges. These industries, involved in crypto transactions, are expected to find value in Saber’s services for enhanced reliability and operational efficiency.

The early clients of Saber.Money include FireDrops by Flipkart, IndiGG, Polygon, ANQ Finance, Colexion, Acme, and Rage Fan. Besides that, 40 additional clients are waiting to join.

As per Patel, the “API-driven fiat and crypto payment methods” at Mudrex are responsible for these clients wanting to integrate crypto transactions into their businesses.

Mudrex has obtained registrations from India’s Financial Intelligence Unit (FIU). They have also registered as a Virtual Asset Service Provider with the European Union and have obtained the Organismo Agenti e Mediatori (OAM) registration in Italy.

While talking about where the idea of Saber emerged from, the CEO of Mudrex elucidated, “At first, our focus was on building the onramp and offramp infrastructure on Mudrex to improve our user experience. However, we quickly recognized the challenges many businesses in the industry faced when trying to incorporate crypto transactions. This realisation, coupled with the increasing regulatory clarity, inspired us to address these issues. Over the past nine months, our dedicated team has diligently worked on building the infrastructure to cater to different clients needs efficiently.”

With the evolution of Web3 and crypto industries, innovative solutions are on the rise, ushering in a new era of financial possibilities.

The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash