Core Innovations

Mudra Pay introduces several high-level innovations that collectively solve the biggest pain points in crypto-to-fiat off-ramping.

State Channel Settlement

By leveraging Yellow Network's state channels, Mudra Pay moves order settlement entirely off-chain. This eliminates per-transaction gas fees and delivers near-instant updates while preserving full security.

Trust-Minimized Relayer

Order orchestration happens inside a Trusted Execution Environment. The relayer coordinates everything but cannot act unilaterally thanks to the protocol's quorum design.

Competitive Resolver Marketplace

An open marketplace where merchants and automated bots compete to fulfill orders. This competition drives better pricing, redundancy, and network resilience.

Market-Driven Pricing

Users can enable a Dutch auction mechanism inspired by 1inch's Fusion Plus protocol. The conversion rate starts at the current market best-case and adjusts over a short window. Resolvers decide when to accept based on their cost of capital and liquidity, resulting in better average rates for users compared to fixed-spread models.

Privacy-Preserving UPI Flow

UPI details are protected with end-to-end encryption and are only visible to the executing resolver, maintaining user privacy throughout the entire process.

Zero-Knowledge Payment Verification

Resolvers generate zero-knowledge proofs after completing a UPI payment. These proofs are verified by the protocol before any funds are released, eliminating the need to trust individual resolvers.

Supported Chains and Assets

Mudra Pay currently supports 7 major EVM chains with a unified balance model, enabling users to deposit and transact across ecosystems seamlessly without bridging.

Supported assets:

• USDC on Ethereum, BNB Smart Chain, Polygon, World Chain, Base, Linea, and XRPL EVM
• USDT on BNB Smart Chain, Base, and Linea

This multi-chain support gives users maximum flexibility and liquidity while maintaining the same fast, gas-free experience across all networks.