Building an Innovative Blockchain-Based Banking Ecosystem

The Case

The company wanted to leverage its market position and expand on their product offerings beyond basic financial services. At the core of the project is the effortless integration between fiat-based currencies and digital assets.

The company didn’t have a technical team or expertise, therefore we had led the full development from product design and definition to execution.

In that our team was an exclusive tech partner leading software development to support all product development. The client’s intention was to build a comprehensive offering of plain vanilla retail banking products that will be seamlessly integrated with the world of digital assets (mostly cryptocurrencies).

Technologies used to build the blockchain-based ecosystem

 

  • Blockchain: Ethereum
  • Frontend: Angular
  • Mobile: Native iOS & Android (Swift & Java/Kotlin)
  • Backend: Node.js, MongoDB, Redis, Kafka, Zookeeper

The innovative solution provided to build the blockchain-based banking ecosystem

Our team is behind the end-to-end development of a platform, aiming to build a blockchain banking ecosystem. The company’s goal is to offer the full spectrum of traditional and digital financial products and provide consumers with a seamless transition to blockchain-powered financial services. The first stage of this plan was to offer a spectrum of alternative blockchain-based financial products, starting with an ETF-like investment product, followed by Loans, Credit Cards, and Deposits.

In addition to the core product development, we also developed the corresponding administrative, client-facing and risk management infrastructure. Some of the distinctive features of our solutions are as follows:

  • The ETF token we built is an ERC-20 token that is widely accessible, easy to use and secure, and ultimately gives holders a direct exposure to the 10 most liquid cryptocurrencies on the market.
  • Proprietary algorithm for tracking the prices of various cryptocurrencies and trading across multiple exchanges.
  • Microservices architecture to interface with the blockchain and perform user KYC.
  • Development of crypto-backed credit cards and crypto-backed loans which will offer additional liquidity to end customers.
  • Website and mobile application (iOS and Android) development.
  • Back-end reporting and admin modules to manage customer profiles and risk exposures.

The Company

The company is a successful e-commerce venture, supported by a large non-banking financial institution operating in the SEE region.