Easy to Use and Powerful B2B Fiat to Crypto Exchange Platform Development

Business extension for an Estonian cryptocurrency market leader

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 AIS 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 AIS Novations, 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 AIS 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 AIS 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 AIS 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.

Work done

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

Widget functionality

Exchanging fiat to cryptocurrency Currencies: Bitcoin, Ethereum, USDT, USDC, and Russian ruble, US dollar, Euro

Payment gateway form functionality

Visa/Mastercard payment
Saved cards

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 AIS team was able to efficiently resolve blockers and mitigate risks before they could seriously impact the project deliverables.

Tech Stack

TypeScript
Fastify
Craco.js
React.js
Ant Design
GraphQL

URQL
Bignumber.js
Docker
PostgreSQL
Ubuntu
Windows

Corefy API
Bistox API
Coingecko API
Sendgrid API
Fractal API

AIS Team

4Software Developers

1Project Manager

1Account Manager

1Business Analyst

1UX/UI designer

Customer location: Estonia

Project duration: 4 months

Results

The AIS team has delivered a robust fiat to crypto exchange platform (publicly known as EXBI) as per the client’s requirements. EXBI is a responsive web app that is equally user-friendly and eye-appealing on a mobile, tablet, or desktop screen.

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 AIS team. AIS Novations’ 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.