Bengaluru, August 28th, 2023: Mudrex, a Bengaluru and San Francisco-based Y-Combinator-backed, global crypto investing platform, launches crypto gift cards for the occasion of Raksha Bandhan.
Mudrex’s crypto gift cards allow users to give their loved ones the exciting world of cryptocurrencies, opening doors to potential investment opportunities and financial growth. The minimum permissible gift amount for a single transaction is Rs 500, while the highest allowable gift amount per transaction is Rs 50,000, exempt from recipient taxation. The expiration date of the gift card will be set to one year from its creation date.
During testing the feature, Mudrex’s crypto gift cards have already garnered substantial interest, with over 5,000 users pre-booking these cards for the upcoming festival. The online gift card feature spans over 90+ countries, providing a global reach, while physical cards are available exclusively in India. The senders can gift Bitcoin, Ethereum, and PAX Gold to their loved ones.
The launch of crypto gift cards underscores Mudrex’s dedication to creating meaningful connections through technology and innovation. As the crypto industry continues to captivate global audiences, Mudrex remains at the forefront, consistently delivering solutions that cater to the evolving needs of its users.
Commenting on the same, Mr. Edul Patel, CEO and Co-founder of Mudrex, said, “We are excited to announce the launch of crypto gift cards in celebration of Raksha Bandhan. As we honor the special connection between siblings, there’s no better method to commemorate this occasion than by offering a means to attain financial empowerment through cryptocurrencies”.