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Fiat-Cryptocurrency Swap Platform Full-Cycle Development

Our team engineered a comprehensive solution for a client aiming to expand their fiat-cryptocurrency swap platform. By integrating advanced payment systems, ensuring KYC / AML compliance, and enhancing the user interface, we extended the platform's coverage to +14 countries.

Product Discovery
Product Design
Web Development
fiat-cryptocurrency-swap-platform

Client Profile

Client profile


ClientFiat-Cryptocurrency Swap Platform
IndustryFinTech, Cryptocurrency, Blockchain
About clientA company, operating an online fiat-cryptocurrency swap platform, was rapidly growing and wanted to expand into new markets. The main goal was to extend their functionalities, vastly boost security and develop a robust admin panel.

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.

business-challanges

Challenge

Transactions Across The Whole European Region With The Lowest Fee

Each region in the EU has its own preferable payment providers, sometimes the same for different countries. In order to achieve the desired geographical coverage, the platform should operate with a variety of payment systems across Europe. Also, the providers’ commissions are not equal for different countries, and the system had to select and monitor the lowest possible fee on every transaction.

Comprehensive Administrative Control

The operators of this service required a user-friendly tool to manage all aspects of the platform, including accounts, transactions, exchange rates, and integrations. Given the product's complexity, the administrative panel also needed to be highly flexible and feature-rich.

AML / KYC Regulations

The AML / KYC rules had to comply with the legal requirements of each European country.

100% Transaction Success

If the preferred provider had a problem during a transaction, the system had to instantly switch to another operational payment vendor specific to the user’s location.

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.

crypto-fiat-solution-from-Monosoft

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.

users-administration

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.

transactions-administration.png

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.

wallets-administration

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

Desktop
Users list
direction

Easily add, edit, and manage user profiles, including personal details, KYC statuses, and user groups, ensuring full control over the platform's user base.

users-administration
Transactions Oversight
direction

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.

transactions-administration.png
Wallet and Payment Management
direction

Oversee user and internal hot and cold crypto wallets and configure payment providers to streamline the flow of fiat and cryptocurrency transactions.

wallets-administration
Admins Groups
direction

Manages platform administrators and their permissions by creating admin groups, maintaining security, and ensuring efficient role management.

Sessions Monitoring
direction

Track and manage active sessions to ensure secure access and prevent unauthorized use of the platform.

KYC
direction

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
direction

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

tech-stack

AML / KYC

Monosoft established an AML / KYC framework, ensuring legal compliance across all required countries.

kya-aml-compliance

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.

admin-panel

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.

transactions-desktop-and-mobile

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

Desktop
AML / KYC
direction

Monosoft established an AML / KYC framework, ensuring legal compliance across all required countries.

kya-aml-compliance
Admin Panel
direction

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.

admin-panel
Versatile Payment System
direction

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.

transactions-desktop-and-mobile
Automatic Internal Balance Transferring
direction

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
direction

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
direction

We developed a widget that allows other companies to earn commissions by integrating it into their software.

Results And Impact

Line

25K+

operations monthly

+14

countries to market coverage

results
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Cases
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