Development and Support of a Cryptocurrency Platform

Our client is a fintech company that offers services for businesses and individual clients. The platform allows users to receive, store, and send cryptocurrencies, make bank transfers in euros and British pounds, and exchange crypto and fiat currencies. The service also enables businesses to accept customer cryptocurrency payments as a legitimate payment method.

Evrone has been working with this cryptocurrency payment gateway for several years. Our specialists have been involved in every aspect of the platform’s development during this time. One of our biggest tasks was creating the B2B module, which we successfully launched and are now focusing on developing further. An NDA protects the project, so we cannot disclose the company’s name. Below, we’ll discuss the changes made to the crypto exchange platform over the past four years.

Zero Commission Transfers

Initially, the client’s B2B and B2C operations existed as separate ecosystems. To allow B2C customers to pay B2B invoices, the decision was made to link the two independent monoliths through a separate brokerage service. This service was implemented in Ruby and Elixir, with Elixir being used experimentally as an alternative to Ruby. Ruby, alongside Go, is the main programming language for the platform, but as the business grew, Ruby started to fall short of its performance requirements. Specifically, the client wasn’t satisfied with its speed, which was cumbersome for building microservices. As a result, the company shifted its focus to Go development as the preferred language for creating services that scale.

Improving Refund Procedures

The platform’s support team noticed that users often made errors during crypto processing, such as sending the wrong amount or at the wrong time. To address these issues, we developed a procedure for users to refund crypto transactions themselves. Before a transaction is processed, the user’s email is requested so additional data can be asked if the transaction is incorrect. Incorrect transactions are automatically identified based on the invoice; the sender is notified if the timing or amount doesn’t match. This new service has become part of the invoice subsystem.

Targeted Improvements to the B2B Service

The corporate client service continues to be enhanced, and here are several new features:

• Subscription Functionality: The crypto payment processing system now includes a subscription feature for the business division, built on the invoice subsystem. This feature allows invoices to be sent on a schedule with payment tracking.

• Mass Payouts: Clients can now upload large lists of payment recipients, addresses, and amounts and send payments in one click.

• Automatic Payments: Merchants can set up automated cryptocurrency transfers, such as sending a fixed amount weekly or monthly or when a certain balance is reached.

• Payment Widgets: Merchants can create payment widgets for their services. They simply need to share the generated link with their counterparties and wait for a notification of use and payment.

• Transaction Approval System: A data-driven, trustworthy approval process system was introduced for multi-user accounts, where a specific user must approve the creation of a transaction. For example, junior employees can create transactions, but approval from a manager is required for execution.

With these improvements, our team wraps up its support for this crypto payment processing service for businesses. Going forward, the client will continue developing the service independently. However, one of Evrone’s team leads will join the client’s in-house team and continue overseeing the process.

If you're looking for specialists with expertise in fintech and cryptocurrency projects, fill out the form below, and we’ll get in touch immediately. Our portfolio includes crypto exchange with P2P trading, fiat-to-crypto payment gateways, and blockchain projects. We are ready to handle development on an outsourced basis, provide outstaffing, or conduct an audit of your project!