OTC desk for worldwide institutions

A platform for settling cryptocurrency transactions

Ruby on Rails Vue.js
OTC desk for worldwide institutions
OTC desk for worldwide institutions

About product

Our client is a global company combining the financial industry with digital securities by harnessing the potential of blockchain technology. They put the safety of crypto transactions in the 1st place. The product we developed is an OTC (over-the-counter) desk working with institutional clients. Shortly speaking, OTC enables buyers and sellers to trade their crypto assets in a direct and easy way. The goal of the platform is to make it possible for organizations to quickly settle their crypto transactions in a possibly safest way and environment. Another important feature of it is the opportunity of conducting both OTC and P2P transactions directly between the customers. That makes it quite unique among other similar products. Ultimately, the platform is intended to serve 50-500 clients.

The second part of the product we developed was the users and administration panel that helps to monitor transactions, enables access to enter the approvals and permissions, set the amount of the commission, and more. We designed this part to make it as user-friendly and intuitive as possible.

The challenge

Our biggest challenge was to integrate the platform with the systems that our client wanted to include in their product. The OTC desk is an aggregator of many external services that are necessary for proper operation and safe customer service, such as:

  • Genesis – liquidity provider, that gives an opportunity to maintain financial liquidity for OTC exchanges,
  • Jumio – the KYC system is an automatic verification of the identity of individual users and companies.
  • Fireblocks – digital asset and wallet custody, the task of which is to maintain the crypto assets of our users safe. Thanks to this solution, all transactions take place ‘on-chain’ and users’ money is resistant to any hacker attacks,
  • Signet – blockchain for handling USD transactions between entities in the United States. Thanks to the integration, the end customer has the option of withdrawing his funds within a few seconds to a traditional bank account.

After the development was completed, the solution was tested by a professional company from Switzerland specialized in conducting pentests. As a result, the solution was released without any further corrections. Security is an extremely important matter when it comes to developing products based on blockchain technology, that’s why this step was crucial in the whole process.

Technological Solution

The OTC platform, as well as the Admin panel, were developed using Vue.js in the Front. This programming language gives an opportunity to scale the product in an easy and fast way.

For the Back-end side, we decided on Ruby on Rails in order to make the outcome more convenient and comfortable. Additionally, maintenance of the website is more cost-effective thanks to this language and managing changes becomes simple. What is more, Ruby on Rails provides some built-in security measures by default what makes it even more valuable in the context of building a platform connected with blockchain technology and crypto transactions.

OTC desk for worldwide institutions

Intuitive admin panel

The administration panel was designed as user-friendly as possible. The functions for admin include monitoring transactions, access to enter approvals and permissions, setting the amount of commisions, and more.

Cost-effective website maintenance

Thanks to the implementation of Ruby on Rails technology, maintaining the website by the client becomes more efficient and cost-effective.
OTC desk for worldwide institutions

Safe crypto transactions

The platform creates a safe environment for organizations to settle their crypto transactions in a fast and easy way.

The Outcome

Developing a platform committed to such vulnerable matters as OTC securities or P2P transactions wasn’t an easy task and required from us a high level of expertise and carefulness in selecting solutions to implement. Integration of services enabling safe customer operations was also quite a challenge. As a result, we contributed to creating a platform generating a turnover of about several million USD per month. The significant role of the platform is providing support for BTC, LTC, BCH, USD cryptocurrencies. 

Ultimately, the company’s plans for the future are ambitious. Shortly, you can expect the introduction of mobile apps and support for more assets. Can’t wait! 

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Development time

Core team

Michał Kukuł, Project Manager at Applover

Michał

Project Manager

Peter Myszczyński Project Manager at Applover

Peter

Full-Stack Developer

kevin nowald full stack dev

Kevin

Full-stack Developer

hania domagała front end

Hanna

Front-end Developer

tomek, back end dev

Tomasz

Back-end Developer

Radosław Bułat CEO Applover

Radek

CIO
Member of the Board

Patryk UX/UI Designer

Patryk

UX / UI Designer

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Let's meet

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jan kamiński, head of sales at applover, co founder

Jan Kamiński

Head of sales

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Tadeusz Korzeniewski, IT Project Consultant & Business Leader at Applover

Ted Korzeniewsky

Head of Business Development

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