Cryptocurrency exchange and digital transaction verification
Enabling the purchase and sale of digital assets and Fiat currencies. Streamlining the transaction verification process in accordance with the AML/CTF policy.
Our Client is a FinTech developing payment infrastructure for applications using cryptocurrencies and other digital assets. Thanks to their solutions, a two-way exchange of cryptocurrencies and Fiat currencies is possible. The solution easily integrates with basic payment methods such as bank transfers, debit and credit cards, Apple Pay, Google Pay, etc. The company's goal is to open up the cryptocurrency and digital asset market to more companies and users around the world.
In turn, the Off-Ramp department deals with enabling users to exchange cryptocurrencies for Fiat currencies. This is both in the Client’s application itself and in decentralized applications (DApps) operating on the blockchain.
Our programmers joined the Off-Ramp team in the proof of concept phase. With their work, they supported the process of integrating the Client’s application with external operators who, in legal terms, enable the withdrawal of funds to a bank account or to a user's card.
What's more, they designed and then implemented the function of the calculating margin for withdrawal.
Risk and Compliance area:
Increasing the number of tools, thus enabling faster and more accurate verification of transactions.
Streamlining the work of people from the Compliance Department whose task is to re-verify suspicious transactions manually. This was possible by providing the system with the analyzed transaction information along with the event log, and also thanks to the addition of a mass recheck function for held transactions.
Enabling the withdrawal of Fiat currencies. In accordance with KYC procedures (withdrawal limits depend on the level of user identification), but also liquidity management.
Providing a convenient API with Off-Ramp functionality for decentralized applications.