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Fiat-Cryptocurrency Swap Platform Full-Cycle Development
Client Profile
Client profile
Objective
Monosoft was tasked to develop a fiat-cryptocurrency platform with a set of multifunctional administrative tools enabling the client to accurately manage its operations and processes. The project required AML / KYC verification and integration with European payment providers. Additionally, the platform had to automatically transfer funds to a cold storage under certain conditions, and offer distinctive features for individual and business accounts.
Challenge
Transactions Across The Whole European Region With The Lowest Fee
Comprehensive Administrative Control
AML / KYC Regulations
100% Transaction Success
Engagement
Team Composition
- 1
PM
- 1
UX / UI Designer
- 4
Backend Developers
- 2
Front-End Developers
- 1
DevOps
- 1
QA
12
Months of engagement
Business Analysis & Information Gathering
The customer had a vision on how the solution has to work, and tasked Monosoft with creating a comprehensive PRD (product requirement document) from scratch. We, also, conducted a deep research and made sure that both legal and technical requirements were met for AML / KYC procedures, managing online cryptocurrency exchanges, calculating commissions, and selecting payment providers.
Solution
Monosoft made a complete visual and technical redesign of the product. We implemented an AML / KYC control compatible to every European country and integrated with all necessary payment providers for the EU. We developed a robust multifunctional administrative toolset that gave moderators control over the complex service’s processes. Also, an implemented mechanism of balance auto transferring, sends funds to the cold storage when the main balance reaches a specific amount.
Users list
Easily add, edit, and manage user profiles, including personal details, KYC statuses, and user groups, ensuring full control over the platform's user base.
Transactions Oversight
Monitors and manages all platform transactions with details like transaction type, status, and currency, ensuring smooth and secure financial operations. When an operation exceeds an assigned funds limit, it notifies a moderator about this transaction, to verify it and approve manually.
Wallet and Payment Management
Oversee user and internal hot and cold crypto wallets and configure payment providers to streamline the flow of fiat and cryptocurrency transactions.
Admins Groups
Manages platform administrators and their permissions by creating admin groups, maintaining security, and ensuring efficient role management.
Sessions Monitoring
Track and manage active sessions to ensure secure access and prevent unauthorized use of the platform.
KYC
Manages the Know Your Customer (KYC) compliance processes and third-party solutions integrated to provide KYC services. Interacts with customers’ documents and all information about him.
Exchange Rate Management
Configure and update exchange rates for different fiat and cryptocurrency pairs to ensure accurate and real-time pricing for all transactions on the platform. This feature helps maintain transparency and fairness in the swapping process.
Administrative Toolset
Easily add, edit, and manage user profiles, including personal details, KYC statuses, and user groups, ensuring full control over the platform's user base.
Monitors and manages all platform transactions with details like transaction type, status, and currency, ensuring smooth and secure financial operations. When an operation exceeds an assigned funds limit, it notifies a moderator about this transaction, to verify it and approve manually.
Oversee user and internal hot and cold crypto wallets and configure payment providers to streamline the flow of fiat and cryptocurrency transactions.
Manages platform administrators and their permissions by creating admin groups, maintaining security, and ensuring efficient role management.
Track and manage active sessions to ensure secure access and prevent unauthorized use of the platform.
Manages the Know Your Customer (KYC) compliance processes and third-party solutions integrated to provide KYC services. Interacts with customers’ documents and all information about him.
Configure and update exchange rates for different fiat and cryptocurrency pairs to ensure accurate and real-time pricing for all transactions on the platform. This feature helps maintain transparency and fairness in the swapping process.
Tech Stack
AML / KYC
Monosoft established an AML / KYC framework, ensuring legal compliance across all required countries.
Admin Panel
We developed a multitasking administrative control panel designed to give operators comprehensive control over the swap platform. It facilitates efficient management of user activities, transactions, internal system settings, and 3rd party integrations.
Versatile Payment System
Customers can exchange fiat for cryptocurrency and vice versa at the snap of a finger. A set of proven European payment providers enables users to make transactions from every corner of Europe.
Automatic Internal Balance Transferring
When a hot balance reaches a specific value determined by an administrator, the system automatically transfers funds to a cold storage.
Individual And Business Accounts
The platform caters to both individuals and corporate clients, offering features tailored to each group. For business users, it supports wire transfers, allowing for larger transactions necessary for corporate trading needs, thereby broadening the platform’s clientele and usage scope.
B2B Widget Solution
We developed a widget that allows other companies to earn commissions by integrating it into their software.
Key Features
Monosoft established an AML / KYC framework, ensuring legal compliance across all required countries.
We developed a multitasking administrative control panel designed to give operators comprehensive control over the swap platform. It facilitates efficient management of user activities, transactions, internal system settings, and 3rd party integrations.
Customers can exchange fiat for cryptocurrency and vice versa at the snap of a finger. A set of proven European payment providers enables users to make transactions from every corner of Europe.
When a hot balance reaches a specific value determined by an administrator, the system automatically transfers funds to a cold storage.
The platform caters to both individuals and corporate clients, offering features tailored to each group. For business users, it supports wire transfers, allowing for larger transactions necessary for corporate trading needs, thereby broadening the platform’s clientele and usage scope.
We developed a widget that allows other companies to earn commissions by integrating it into their software.
Results And Impact
25K+
operations monthly
+14
countries to market coverage
