Regulatory requirements for cryptocurrency exchanges are increasing every year. Exchanges must either adapt to local regulations or exit the market, which can limit access for users in certain countries. These regulations often focus on user registration and identification, stricter KYC/AML checks, and tax reporting.
As a result, there is growing interest in «lightweight» software solutions for quick digital asset-to-fiat exchanges. These solutions often bypass lengthy registration and verification processes. One such option is a cryptocurrency exchanger, which is gaining popularity again due to its quicker deployment compared to a full-scale crypto exchange.
Options for Launching a Cryptocurrency Exchanger
One complex and risky option is purchasing a script for a template-based crypto exchanger, acquiring a new domain, virtual hosting/VPS services, and managing configuration and integration yourself. This process involves dealing with multiple service providers or software vendors, facing inflated prices, and investing significant time.
A simpler and more efficient solution is to buy a service package from a specialized software company that creates crypto exchangers. This approach provides a white-label SaaS solution, with the company handling all configuration, customization, and integration. Eqwali, an Estonian company, offers such a comprehensive package.
Benefits of a SaaS Partnership
- All-in-One Package: You receive a fully functional crypto exchanger solution with hosting, front-end and back-end modules, all customized to your specifications and set up in the shortest time possible.
- White-Label Solution: Build or promote your own brand, enter new markets, and expand your customer base.
- SaaS Model Advantages: Enjoy access to future updates and ongoing maintenance to ensure the system meets the promised specifications. The system is continuously monitored with a guaranteed 99% uptime according to the SLA.
Software Architecture and Modules
The software uses a microservice architecture with numerous connectors for integration with various external services and partner modules.
Authorization System
Based on Open ID, this system allows users to create a single account for authentication across multiple unrelated external services.
Wallet System
Eqwali provides clients with the unique capability to generate wallet addresses on their own nodes using their own master wallet. This service is available as both a SaaS model and for deployment on the client’s infrastructure.
The wallet system supports a wide range of cryptocurrencies, including BTC, ETH, USDT (TRC-20 and ERC-20), TRX, DOGE, LTC, BCH, and DASH.
During deployment, a master wallet is created, which displays the balances of all client wallets and can generate address pools. This allows exchange users to quickly create their own crypto wallets. The system also facilitates easy deposits and withdrawals, which are crucial for efficient cryptocurrency operations.
Having its own crypto custodial solution significantly reduces the risks associated with storing client funds and provides additional benefits, such as the ability to record fiat payment data directly on the blockchain. If necessary, funds from the master wallet can be transferred to a cold wallet for enhanced security.
API Integration
The customer benefits from a wide range of integrations, including:
KYC Service Integration: Integration with remote client identification services like Sumsub and Shufty Pro, with options for integrating AML systems and blockchain monitoring systems.
SMS Provider Integration: For delivering OTP passwords.
Payment Provider Integration: For international payment systems, wallets, SEPA transfers, and local PSPs.
Crypto Exchange Integration: Integration with exchanges like Kraken and WhiteBIT for real-time exchange rates and liquidity. Hedging solutions for managing exchange rate risks are also available.
Incident Management System Integration: Identifies and processes suspicious, unusual, or erroneous transactions, enhancing service quality.
Back Office
The system includes tools for customer and transaction monitoring, a flexible reporting system with customizable templates, and an admin panel for setting custom exchange rates, transaction fees, and managing blacklists. Eqwali also offers additional modules for legal entity services, P2P markets, and trading engines for crypto exchanges. Custom client applications can be developed based on specific needs.
Successful Eqwali Projects in 2024
- Wallet System Integration with Bpay.md (Moldova): Users can create wallets, buy/sell cryptocurrency for the Moldovan leu, and transfer crypto to external addresses.
- PayWRX Connect Ltd(Canada): A comprehensive SaaS solution with extensive integrations, including KYC and SMS providers, Visa/Mastercard, SEPA, internal crypto and fiat wallets, and agent and ATM networks. This project serves legal entities needing cryptocurrency services.
- Digicoinz.io Payment System Launch (Czech Republic): A SaaS model focusing solely on crypto wallets, with purchases and sales managed via Visa/Mastercard and SEPA payments.
To order turnkey cryptocurrency exchange software, please submit a request on the Eqwali website. A company representative will contact you to discuss implementation options, cost estimates, and answer any questions.