Cryptocurrency Exchange Services Platform
Banking and finance
Java, Angular 5, RPC (BTC, LTC, ETH, Dash, USDT), PayPal / Braintree API
2 front-end developers, 3 back-end developers, 1 project manager, 1 QA, 1 UI/UX.
The customer, an international financial technology company, needed a cryptocurrency exchange platform to expand their fintech product portfolio. The designed crypto exchange platform should provide its end-users with e-wallets for both crypto and fiat currencies, as well as with a fast and secure crypto-crypto and crypto-fiat exchanger. The platform was to support Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Tether (USDT), and fiat money (USD and HKD).
Solution: Description and Key Capabilities
OTR developed a crypto exchange service platform that enables its users to create secure digital wallets for crypto (BTC, LTC, ETH, Dash, and USDT) or fiat currencies (USD and HKD). Within the platform, users are allowed to exchange their assets, make deposits and withdrawals. Also, users can monitor all the needed statistics on the platform.
Also, the OTR’s team designed the following admin modules to facilitate a platform management process:
- Cryptocurrency rate monitoring module
- Exchange rate management module
- Customer management module
- Information security module.
Drawing on a 20-year experience in delivering custom fintech software, OTR examined the customer’s requirements to develop a crypto exchange platform from scratch. Our team opted for the Agile software development life cycle methodology, as the customer wanted to get the platform as fast as possible and make some adjustments during the development process.
To realize the project, our team developed API for operations with crypto and fiat assets. The designed API interacted with RPC blockchain networks, thus it allowed avoiding the use of third-party services and provided the platform’s users with the best exchange rates.
One of the most important parts of UI development was to make the platform interface not only user-friendly but also easily configurable. The OTR’s team provided the crypto exchange system with a high level of configurability, thus end-users can configure their dashboards with needed tables, graphs, diagrams, etc.
To achieve robust platform security and prevent possible financial crimes or money laundering, the OTR’s team developed a KYC (know your customer) module. Single-factor authentication was chosen as a method to ensure the security of user verification. When required, a registered user can switch to two-factor authentication to set an additional security layer.
The resulting crypto exchange service platform allows users to create e-wallets in crypto and fiat, exchange their crypto and fiat assets at the best rates in the market, make deposits and withdrawals. Also, end-users can easily configure the platform interface according to the particular needs and secure their accounts with two-factor authentication.
Also, OTR designed a set of platform administration features, including cryptocurrency rate monitoring module, exchange rate management module, customer management module, and information security module, which are to facilitate the crypto exchange platform management process. To protect our customer from possible frauds and ensure the platform’s compliance with Anti-Money Laundering regulations, the OTR’s team developed the KYC module.