Mudrex is evolving.
Over the past several years, we have built Mudrex with a simple goal. Make crypto investing easier and more accessible for Indian users. As the platform has grown, we have learned a lot about how traders in India actually interact with crypto markets.
One insight has remained consistent. Most investors naturally think in Indian Rupees, not stablecoins.
So we are upgrading the trading experience on Mudrex to make it INR-native.
Spot trading is moving to an INR-native system.
With this update, you will be able to buy and sell crypto directly using INR. Coin prices, charts, order values, and portfolio totals across Spot will now be displayed in rupees by default.
This removes the need to convert between USDT and INR while trading, making the experience simpler and easier to understand.
What You Need to Know at a Glance
Mudrex Spot is moving to an INR-native trading experience. Here are the most important updates.
- Spot trading becomes INR-first. Coin prices, charts, and buy or sell flows will use INR by default.
- Portfolio values will appear in INR after a one-time conversion of existing USDT values.
- Your crypto holdings remain unchanged. Coin quantities stay exactly the same.
- INR deposits and withdrawals are supported. You can deposit, hold, and withdraw INR directly from your Spot wallet.
- USDT will continue to be supported. Existing USDT balances will appear in your Spot portfolio and can still be used for Futures trading, Coin Sets, and Earn products.
- Existing Stop Loss and Take Profit orders will continue to work. Additionally, users can cancel them and place new orders in INR for easier tracking.
- Existing Buy The Dip orders placed in USDT will be cancelled. New ones can be placed in INR after the transition.
- All new risk orders will use INR trigger values.
- Spot SIPs will be cancelled as part of this transition. Going forward, Spot SIPs will have INR price triggers.
- Coin Sets SIPs will continue without any changes. Users must ensure that they have sufficient USDT funds to prevent SIP failure.
- Taxes and fees will be shown more clearly. GST and TDS will appear with clear breakdowns.
- Mudrex Alpha updates: Spot Alpha tiers will now be evaluated using INR trading volume.
What Changes With INR Spot
The transition to INR Spot updates how trading activity appears across the app.
| Feature | Previous Experience | INR Spot Experience |
| Spot Trading Currency | USDT | INR |
| Coin Prices | Displayed in USDT | Displayed in INR |
| Charts | Based on USDT prices | Based on INR prices |
| Buy / Sell Orders | Entered in USDT | Entered in INR |
| Portfolio Value | Displayed in USDT | Displayed in INR |
| Trade History | Recorded in USDT | New trades recorded in INR. Trade history to remain in USDT. |
| Deposits | Limited INR integration | Direct INR deposits |
| Withdrawals | Crypto conversion required | Direct INR withdrawals |
All Spot trading screens will now show INR values by default, including coin prices, charts, order inputs, and order previews.
Order confirmations and executed order history will also display clear currency labels to make it easy to distinguish INR and USDT activity.
A More Natural Trading Experience
Many crypto platforms rely heavily on stablecoins for trading pairs. This often requires users to mentally convert between USDT and their local currency before making trading decisions.
INR Spot removes that extra step.
You can now clearly see:
- How much INR you are investing
- The INR value of each trade
- Your portfolio performance in rupees
- Price movements directly in INR
This makes the trading experience more familiar and easier to follow, especially during fast market movements.
What Happens to Your Existing Spot Portfolio
If you already hold assets in your Spot wallet, the transition to INR Spot will happen automatically.
Your portfolio value will appear in INR after a one-time conversion of existing USDT values when the migration takes place.
Your coin quantities will not change. Only the currency used to display portfolio values will change.
| Portfolio Component | What Happens |
| Coin Quantities | Remain unchanged |
| Portfolio Value | Displayed in INR after migration |
| Existing USDT Value | Converted once for portfolio display |
| Historical Trades | Remain recorded in USDT |
| Future Trades | Recorded in INR |
This ensures that historical records remain accurate while future activity reflects the INR trading experience.
Your assets remain secure and fully yours. This update only changes how Spot values are displayed and traded.
INR Funds
INR becomes the primary funding currency for Spot trading.
You can now deposit, hold, and withdraw INR directly through your Spot wallet.
| Action | INR Experience |
| Deposit INR | Direct deposit to Spot wallet |
| Hold INR | INR balance available for trading |
| Withdraw INR | Direct bank withdrawal |
| Wallet Balances | Available, locked, and pending funds visible |
INR funds in your wallet can be used to trade Spot markets and participate in INR-margin Futures trading.
Where USDT Still Fits In
While Spot trading is moving to INR, USDT will continue to remain part of the Mudrex ecosystem.
Your existing USDT balance will not be converted or removed.
Instead:
- Your current USDT balance will appear as USDT funds in your Spot portfolio
- USDT can still be used across several Mudrex products
| Product | USDT Support |
| Spot Portfolio | Existing USDT appears as USDT funds |
| USDT Buy / Sell | Use INR to buy USDT, or sell USDT to receive INR funds. |
| USDT Futures | Use USDT to trade Futures |
| Coin Sets | Use USDT to invest in Coin Sets |
| Earn Products | Use USDT to participate in Earn products |
USDT buy and sell to remain available
Users who want to continue holding or using USDT can easily do so through the USDT Funds page.
- You can buy USDT using your INR balance directly from this page.
- You can also sell your USDT to convert it back into INR whenever needed.
Buying USDT currently incurs zero fees.
Note: When selling USDT, a 1% TDS will apply. This deduction is mandated by the government, and Mudrex does not retain any portion of this fee.
Existing SL, TP, and Buy The Dip Orders
Risk management orders remain available with INR Spot, but some changes apply during the transition.
| Order Type | What Happens |
| Stop Loss (SL)Take Profit (TP) | Existing orders will continue to execute. Once executed, the amount will be credited to USDT Funds. Orders cannot be edited, but users can cancel them and create new INR trigger orders. |
| Buy The Dip (BTD) | Active orders placed in USDT will be cancelled. Users can create new orders on INR Spot. |
If you want to continue using Buy The Dip strategies, you can create new BTD orders using INR trigger values after the transition.
Going forward, all new SL, TP, and BTD orders will use INR trigger prices.
Coin SIP Updates
The transition to INR Spot also affects Coin SIPs.
| Feature | Update |
| Active Coin SIPs | Cancelled during migration |
| New Coin SIPs | Can be created using INR investment amounts |
| Coin Sets SIPs | Continue as usual. Users must ensure maintenance of sufficient funds for execution. |
Users who wish to continue Coin SIP investing can simply create new SIPs after the transition using INR amounts.
Clearer Fee and Tax Visibility
INR Spot also improves how fees and taxes appear during trading.
Mudrex has always focused on strong compliance standards. As part of this update, tax and fee breakdowns will now be displayed more clearly during the trading process.
| Cost Component | Update |
| GST | Displayed clearly during order placement |
| TDS | Applicable on all Spot sell transactions |
| Fee Breakdown | Visible before and after order execution |
This makes it easier for users to understand the total cost of each trade.
Historical USDT trades remain unchanged.
Statements and Records
Transaction records will clearly distinguish between INR and USDT activity.
Historical Spot trades will remain recorded in USDT, while all Spot transactions after 1st April 2026 will appear in INR.
Statements, transaction logs, and order history will include clear currency labels so users can easily identify which currency was used for each transaction.
This ensures trading history remains accurate while reflecting the transition to INR Spot.
Temporary Pause on Referral Rewards
As part of the INR Spot migration, referral rewards and referral commissions will be temporarily paused between March 25 and March 31, 2026.
This is to ensure a smooth transition while system updates are completed.
All pending referral rewards from this period will be processed in XAUT after the migration is finished, before April 7. Pending referral commissions will be processed in INR before April 7 as well.
Mudrex Alpha Updates
The Mudrex Alpha program is also being updated to align with the INR-native Spot trading experience.
Alpha continues to reward active traders with reduced trading fees based on their trading volume. With INR Spot, the way this trading volume is evaluated for Spot activity will change.
Alpha fee benefits will now apply to two primary trading environments on Mudrex. These are INR Spot trading and USDT Futures trading.
For Spot trading specifically, Alpha tiers will now be evaluated using INR trading volume instead of USDT volume. This means the value of your Spot trades will be measured in rupees when determining your Alpha tier.
Previously, Spot trading volume used for Alpha calculations was tracked in USDT terms. With the transition to INR Spot, this evaluation will move to INR to align with the new trading environment.
Existing Alpha tiers will continue to function as usual. The tier thresholds will now be interpreted in INR terms so that trading activity is measured using the same currency that Spot trades are executed in.
These updates ensure that the Mudrex Alpha program remains consistent with the new INR-first Spot experience while continuing to reward active traders across Spot and Futures markets.
Quick Questions
Will my crypto holdings change after the migration?
No. Your coin quantities will remain exactly the same. Only the currency used to display prices and portfolio values will change to INR.
What happens to my existing USDT balance?
Your USDT will remain in your Spot portfolio as USDT funds, and you can continue using it for Futures trading, Coin Sets, Earn products, or convert it to INR if needed.
Will my existing Stop Loss or Take Profit orders be affected?
Existing SL and TP orders will continue to execute normally, but they cannot be edited. You can cancel them and place new orders using INR trigger values.
What happens to my Buy The Dip (BTD) orders?
Active BTD orders placed in USDT will be cancelled during the migration. New ones can be created using INR trigger prices after the transition.
Can I still use USDT on Mudrex?
Yes! You can buy USDT using INR, sell USDT to receive INR, and continue using USDT across Futures trading, Coin Sets, and Earn products.
Start Trading with INR Spot
INR Spot is now live on Mudrex.
Open the Mudrex app to explore the new Spot trading experience and buy, sell, and track your crypto investments directly in INR.
