Mudrex, an Indian platform for investing in cryptocurrencies, has obtained the necessary registration to operate in Italy, according to its CEO and co-founder Edul Patel, who spoke to CoinDesk on Friday.
This is a rare achievement for an Indian company, as most of them have faced difficulties due to high taxes and a global slump in crypto markets.
Patel also revealed, for the first time, his “bullish plan” to expand globally. He said that half of his team is focused on international growth.
Mudrex is also seeking approval to operate in the U.K., Patel added. The company was registered with Italy’s Organismo Agenti e Mediatori (OAM) on Sep. 1, 2023.
OAM is the local authority that keeps track of financial agents operating in Italy and enforces anti-money-laundering rules.
Patel said that they waited for some time after the registration before announcing the news publicly.