Crypto Asset Exchange

Developed For Ausfinex - Australian Crypto Exchange

THE CLIENT

Ausfinex is an Australian-based fiat-crypto exchange company that facilitates a buyer to purchase, sell or exchange crypto assets for fiat currencies quickly and securely.

THE BUSINESS CHALLENGES

The liquidation of cryptocurrency is very popular in the financial world since 2016. Apparently, the process of conversion from crypto to fiat is time-consuming and incurs a high degree commission rate at the same time. Additionally, the threat of cyber attacks and hoax exchange boards has made traders go through a lot of hassle in the process of their crypto exchange. This presented an opportunity for our customer to build a user-friendly and secure crypto asset platform that supports a wide range of crypto-fiat pairs.

THE BUSINESS REQUIREMENT

The client put forward the requirement of a platform to solve the problems faced in the fiat-crypto currency exchange platforms, which are

THE SOLUTION

For our customer Ausfinex, we built the crypto asset exchange platform. The system is built with enhanced security, order book trading and facilitates a higher liquidity rate for a trader. It also offers prominent features such as flexible trading, cybersecurity insurance, and state-of-the-art security. The application offers a simple-to-navigate user interface and integration of various payment methods and advanced reporting options. The platform is built with high-security standards for maintaining the funds secure and prevent any security attack. The platform enabled the users to no longer need to go through the hassle of converting their currency through BTC, ETH, USD, or EUR to access other cryptocurrencies, as a wide range of crypto and fiat currencies are available on the Ausfinex platform. The platform’s native token, the Ausfinex Coin (AFEX), will provide users a 50 percent discount for fees on trading, brokerage, and coin listings.

FEATURES

TRANSFORMATION PROCESS

DiscoveryThe client realized that the current Crypto Exchange system is not efficient. The exchange process takes a lot of time and was not secure.
Consultation with Accubits Blockchain expertsOur client shared their problem statement with Accubits. An expert team of solution architects and business analysts conducted a study to analyze the problem statements, technical feasibility and proposed a few options using cutting-edge technologies to solve these issues. Each option accompanied details such as the cost to implement, estimated benefit, requirements for implementation, etc.
Review of potential solutionsConsidering different parameters such as ETA for deployment, project requirements from the client, etc, the Client opted to integrate blockchain into their current system.
Impact analysis
A detailed impact analysis was required before developing the crypto-exchange platform. In the analysis, all dependencies including server requirements, internal positioning was defined and studied their potential impact on the existing system. After the impact analysis, a clear-cut implementation strategy was defined.
Post-deployment modificationsThe performance of the solution was evaluated and fine-tuned the solution with post-deployment modifications.

THE RESULTS

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Highlights

Enabled with cybersecurity insurance

Built with state of the art security measures

100+ crypto-fiat pairs

Flexible trading options

Technologies Used