Bitcoin Pizza Day today: Mudrex CEO Edul Patel explains the significance

Bitcoin came a long way from facing numerous challenges such as regulatory scrutiny, security breaches, and skepticism from traditional financial institutions in 2010 to the approving Bitcoin spot ETFs and governments across the globe regulating it and acknowledging it as a security. To celebrate this journey of Bitcoin and to spread awareness, Mudrex have been celebrating it for the past few years now.

How does Mudrex aim to spread awareness about cryptocurrency through this event?
Edul Patel: Mudrex aims to spread awareness about cryptocurrency through this event by engaging in a multi-faceted outreach approach. We've partnered with over 16+ WeWorks across Bengaluru to connect with more than 500 startups by distributing pizzas, fostering a sense of community and discussion around cryptocurrency. In collaboration with Zomato, we're reaching 30 lakh food lovers by offering Bitcoin worth the value of a pizza. Additionally, we are bringing joy to over 2000+ children by partnering with 25+ orphanages and shelter homes, sharing both pizza and knowledge about . This event not only celebrates our mission but also educates diverse groups about the potential of technology.

Why did Mudrex choose Bengaluru as the focal point for distributing over 5,000 pizzas?
Edul Patel: Mudrex chose Bengaluru as the focal point for distributing over 5000 pizzas for several reasons. Firstly, Bengaluru is known as India's Silicon Valley, with a vibrant startup ecosystem and a high concentration of tech-savvy individuals. This demographic is often more receptive to innovations such as cryptocurrency, making it an ideal target audience for spreading awareness about the industry.

Secondly, Bengaluru has a diverse and cosmopolitan population, which aligns well with Mudrex's goal of reaching a broad audience with its awareness initiatives. By distributing pizzas in Bengaluru, Mudrex can engage with people from various backgrounds and demographics, facilitating conversations about cryptocurrency and its potential impact.

With numerous coworking spaces, offices, and residential areas, Bengaluru provides ample opportunities for reaching a significant number of people with the pizza distribution initiative.

How does this campaign align with Mudrex’s broader mission and vision in the cryptocurrency space?
Edul Patel: Bitcoin Pizza Day is a significant day for the crypto community, symbolizing the beginning of a new era in digital finance. At Mudrex, we believe in community engagement and building a strong, informed community to educate and spread awareness, enabling them to make informed decisions. We have been undertaking various initiatives to educate people in different ways, as crypto is still in its nascent stage and information is crucial. By partnering with startups and collaborating with popular platforms like Zomato we strive to make cryptocurrency knowledge accessible to everyone. Through these efforts, we aim to demystify cryptocurrency and empower individuals with the understanding they need to navigate the evolving digital currency landscape. This multifaceted approach not only spreads awareness but also aligns with our vision of making cryptocurrency accessible, understandable, and beneficial for everyone.

We believe in the power of education and community. By celebrating this day with children, we hope to plant seeds of curiosity and knowledge that will grow into a deep understanding and appreciation of blockchain technology in the future.

We believe in the power of small acts of kindness. Today, it's pizza; tomorrow, it could be something else. What matters is that we continue to make a positive impact.

Are there any plans to extend similar initiatives to other cities or regions in the future?
Edul Patel: Absolutely, we have ambitious plans to extend similar initiatives to other cities and regions in the future. Our goal at Mudrex is to create widespread awareness and understanding of cryptocurrency, and we believe that engaging communities through such innovative events is a powerful way to achieve this. We have seen an amazing response from Bengaluru this time, which has reinforced our commitment to expanding these efforts to other locations the next year.

How do you see the future of cryptocurrency in India, and what role do you think Mudrex will play in shaping that future?
Edul Patel: India is at the forefront of crypto adoption at the grassroots level. According to a survey conducted by Mudrex, the majority of people believe that cryptocurrency will become a mainstream class within the next five years. With increasing regulatory clarity from the Indian government and international bodies, the number of people entering the crypto space is expected to rise. However, educating the masses about cryptocurrency and blockchain technology is crucial. Mudrex, along with other industry players, is making significant efforts to inform people about the associated risks, enabling them to make well-informed decisions. Ultimately, the growth and adoption of cryptocurrency depend on widespread awareness and understanding of the industry.

Looking ahead, what are Mudrex’s next big steps or innovations in the cryptocurrency market?
Edul Patel: With our B2B product called Saber, we are enabling Web3 startups and crypto businesses to make transactions seamlessly. We have recently introduced Bitcoin spot ETFs tailored for both Indian retail and institutional players. This marks the beginning of our expansion to meet diverse industry needs. Additionally, we are preparing to unveil a range of new products to further enhance our offerings and provide comprehensive solutions to our clients.

As regulatory frameworks for cryptocurrencies become more defined globally, we anticipate positive developments in government regulations that will facilitate a surge in adoption among Indians. Since the introduction of our US BTC Spot ETF services, there has been significant interest from high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) in India looking to explore the crypto scenes.

We expect fiscal year 2025 to attract a significant number of seasoned investors and traders from traditional markets to the cryptocurrency landscape. Historically, Indian financial institutions have remained cautious, largely observing from the sidelines. However, we predict that FY25 will be a watershed year, with these institutions beginning to actively participate in the cryptocurrency market, thereby catalyzing its mainstream retail acceptance in India.

How does Mudrex view SEBI's willingness to oversee crypto trade in India, particularly in light of the Reserve Bank's differing stance? And what potential implications does this regulatory shift hold for Indian investors?
Edul Patel: The Securities and Exchange Board of India (SEBI)'s proposal for multiple regulators to oversee the (VDAs) sector represents a balanced and pragmatic approach. This move can ensure comprehensive oversight by leveraging the expertise of various financial authorities, thereby enhancing regulatory clarity. It is a progressive stance that acknowledges the multifaceted nature of VDAs. Moreover, it can help in building investor confidence, as a well-regulated environment reduces the likelihood of market abuses and enhances the overall integrity of the ecosystem.

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Source: Forex-Markets-Economic Times