Overview

Mudra Pay is a high-performance, trust-minimized protocol that enables users to convert stablecoins into INR and receive funds directly to any UPI address in seconds.

Built on Yellow Network's state channel infrastructure, Mudra Pay combines a competitive resolver marketplace, hardware-secured orchestration, privacy-preserving UPI transmission, and zero-knowledge proof verification. The result is significantly faster finality, better conversion rates, and lower fees than traditional off-ramp solutions — all while preserving strong security and decentralization properties.

Whether you are a crypto user looking for instant access to fiat or a merchant seeking seamless payment acceptance, Mudra Pay creates a native bridge between decentralized finance and India's dominant real-time payment rail.

India's Unified Payments Interface (UPI) has revolutionized digital payments, yet the bridge between cryptocurrency and everyday fiat remains slow and inefficient. Mudra Pay was created to solve this fundamental gap by delivering a dedicated, high-performance off-ramp layer that feels native to UPI while remaining fundamentally decentralized at the protocol level.

This documentation explains the protocol's high-level architecture, core innovations, security model, supported networks, and economic design in detail.