Easy to Use and Powerful B2B Fiat to Crypto Exchange Platform Development
Estonia
- 4 months
Client and Business Goals
The client for this project is Bistox Holding OÜ, an Estonian company specializing in cryptocurrency exchange and crypto gaming. Bistox turned to Symfa with the project that would extend their business line.
The business objective for the new product was to create a B2B solution for exchanging fiat to cryptocurrency in order to gain a new competitive advantage and boost profits.
By the time Bistox contracted Symfa, the client already had two successful products, Bistox cryptocurrency exchange platform and BISTOX Exchange Gaming Platform. However, the existing client’s product, the Bistox cryptocurrency exchange platform, could not be used for exchanging cryptocurrency for fiat. So, the client’s vision was to create a web service that would fix this issue and integrate it into the Bistox exchange platform to enable buying cryptocurrency for fiat.
Challenge
The Symfa team was in charge of the full project scope, from business analysis to development, to the deployment on the client’s server. Among the key challenges were multiple 3rd party integrations and test environment establishment.
- Given the stringent security requirements, the system underwent robust testing procedures under emulated conditions both during the development and QA stages. During the development phase, the engineers worked with the test data that were generated upon the deployment of the development environment. To guarantee reliable access to the stage environment for everyone engaged in the testing procedures, we added automatic stage updates whenever changes are pushed into the repository (via Jenkins and Portainer).
- 3rd party integrations included Visa and Mastercard APIs (payment system), SendGrid (email notifications), KyCaid (identity verification), Bistox.com API (cryptocurrency rates). The Symfa team demonstrated first-class dominance of the integration tools and successfully implemented all the project integrations.
Solution
The fiat to crypto platform is a robust multi-component project. The scope of work included the development of a widget, website, admin panel, and payment gateway.
The Symfa team started from the Elaboration phase, after which we presented the client with the detailed Vision and Scope, SAD, and T&M Estimation. Equipped with the project vision and documentation, we switched to the actual development phase including Sprint 0, Development, and Stabilization stages.
The web application operates in two languages (English, Russian) and is supported by Chrome, Yandex Browser, and Safari. The product was successfully integrated with Visa and MasterCard payment systems.
To a large extent, such a gigantic chunk of work was delivered so smoothly due to the efficient communication and delivery practices. To meet the project needs, we combined the selected elements of Scrum and Kanban methodologies. Thus, our custom delivery workflow included:
- 1-week sprints
- Daily team meetups for status updates
- Weekly status update with a client
- Weekly demo meetup to showcase the week-long effort.
As the team didn't have the SRS to guide them (only V&S and SAD were prepared), the feature set could change on the fly. This gave the project unprecedented flexibility, yet required a more active client involvement throughout the project progression. Due to the regular sync-ups with the client, the Symfa team was able to efficiently resolve blockers and mitigate risks before they could seriously impact the project deliverables.
Website key functionality
- Sign Up/Sign In
- Registration emails
- Identity verification (KYC)
- Profile Info
- Credit cards
- Balance & history
- Transactions history
- Fees and Limits
- Policies and Terms
- Contacts
- FAQ
Admin panel key functionality
- 3 levels of access rights (Super Admin, Operationist, Partner)
- Sign in page
- Dashboard (recent transactions)
- Users and Access control
- Transactions
- Widget configuring
- Verifications
- Percentages and currency
- Profile settings
Exchanging fiat to cryptocurrency
Currencies:
- Bitcoin
- Ethereum
- USDT
- USDC
- US dollar
- Euro
Payment gateway form functionality
- Visa/Mastercard payment
- Saved cards
Technologies
Results
The web app is PCI DSS Level 1 certified and complies with all GDPR processing rules, which guarantees security and data integrity. Intuitive design, easy registration and installation processes make it a #1 fiat to crypto option for crypto newbies and veterans alike.
We met all the client requirements and delivered the system from start to finish within the set deadlines. The client admired the quality of work and communication practices of the Symfa team. Symfa’s dedicated support team continues working on the project. As for the future prospects, Bistox has already chosen us as the software development partner for the EXBI mobile apps development.
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