Developing a New, Secure and Scalable System for a Leading Crypto Exchange
Case Study
Case Study
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We were approached by one of Europe’s leading cryptocurrency exchanges to build a secure and scalable crypto banking system for their suite of products.
The client is a large-scale company with over 100 employees, and is renowned for its security and adherence to strict regulatory guidelines.
From the start, the client made their mission statement perfectly clear – give their users access to tax-free, fully regulated bank accounts through which to buy and sell crypto assets in only a few clicks, as well as transfer money over both bank and crypto accounts – in seconds. All this as part of an airtight, secure package that protects users’ assets so they can confidently buy, sell, and trade on the platform.
While ambitious, we were committed to providing a solution that’s not just highly competitive, but best-in-class.
Educating the team on the nuances of different types of wallets, as well as module performance across operating systems.
The system used MTAN (Mobile transaction authentication number) – a limitation on performance and unscalable due to its high SMS costs
Strict regulatory requirements and restrictions
We replaced MTAN with a more scalable, secure, and user friendly solution that also exceeded existing performance
The rollout consisted of milestones: first with crypto transactions, followed by the login flow, and finally with third-party integrations
Bridging of skill shortages within the company with a carefully selected team of in-house Skillo experts
To solve these interconnected and complex challenges, we employed a flexible approach to best serve the client’s goals
We were ultimately able to resolve the difficulties in understanding how native keychain modules worked across different devices by extensively scrutinizing the results of multiple scenarios, as well as efficiently utilizing in-depth documentation for all OSes involved
Prioritized security and reshaped the client’s exchange platform behind the scenes.
Improved the user’s experience by eliminating unwieldy MTAN processes and reducing SMS-related costs
Engineers gained significant technical expertise in native modules and cryptography, which will be applied in future projects
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