Non-Custodial Crypto-Fiat Financial Platform Development
Budget: £250 – £750 GBP
AI WRITTEN BIDS WON'T WIN, WE WILL WAIT FOR PERSONALISED BIDS
We are developing a secure, non-custodian crypto on-ramp and off-ramp platform to facilitate seamless crypto-to-fiat and fiat-to-crypto transactions. This platform will allow users to convert between crypto (e.g., BTC, USDT) and fiat currencies (GBP, EUR) with KYC, KYT, and security measures integrated at each step to ensure compliance and a smooth user experience.
Core Workflows:
On-Ramp (Fiat to Crypto):
User Process: The user undergoes KYC at onboarding, then deposits fiat (GBP, EUR) via Modulr (or similar) API.
Video Waiver: Before proceeding, the user records a video acknowledgment of risk and waiver of indemnity, securely stored for compliance purposes.
KYT for External Wallet: The user’s external wallet address undergoes KYT verification for compliance.
Crypto Purchase and Delivery: Once fiat is received, the platform initiates a crypto purchase via the liquidity provider, deducting a pre-set commission.
Crypto Transfer: The acquired crypto is transferred to the user’s external wallet, completing the transaction.
Off-Ramp (Crypto to Fiat):
User Process: The user submits crypto (BTC, USDT) for fiat conversion, undergoing initial KYC if not already completed.
Immediate USD Conversion: Upon receiving crypto, the platform converts it into USD through the liquidity provider to minimize exposure.
Instant Fiat Payout: Using an external fiat provider (e.g., Modulr), the user receives an IOU equivalent to the converted amount in their chosen fiat currency (GBP, EUR) for an immediate experience.
Settlement Period: The backend processes the 24-hour BitGo settlement for USDT, ensuring our system’s liquidity while the user experiences no delay in the fiat payout.
Technical Stack:
Backend: Node.js
Frontend: React
Databases:
MongoDB for user management, blockchain logs, and transaction data.
PostgreSQL for fiat settlement data.
MongoDB + Document Storage for storing KYC files and video waivers.
Redis for session management and API rate limiting.
Elasticsearch for audit logs.
Integrations:
Wallet Infrastructure & Liquidity: BitGo for wallet management and liquidity provision.
Pricing API: CoinMarketCap for real-time rate fetching.
Fiat Payout: Modulr for handling fiat deposits and payouts in GBP and EUR.
KYC & KYT: Sumsub for KYC verification during onboarding, KYT for wallet address validation, and video acknowledgment for risk and indemnity.
File and Video Storage:
File storage for KYC documentation and video storage for waiver acknowledgments. Video recordings will capture the user’s verbal acknowledgment of risks and indemnity waiver, stored securely for audit purposes.
Development and Communication Requirements:
Timezone and Communication: Freelancer must be available during UK business hours and provide daily updates at the start of each day.
Quality and Security Compliance: The project requires regular code submissions via Git, following best practices and structured code reviews to maintain quality, security, and compliance.
We are developing a secure, non-custodian crypto on-ramp and off-ramp platform to facilitate seamless crypto-to-fiat and fiat-to-crypto transactions. This platform will allow users to convert between crypto (e.g., BTC, USDT) and fiat currencies (GBP, EUR) with KYC, KYT, and security measures integrated at each step to ensure compliance and a smooth user experience.
Core Workflows:
On-Ramp (Fiat to Crypto):
User Process: The user undergoes KYC at onboarding, then deposits fiat (GBP, EUR) via Modulr (or similar) API.
Video Waiver: Before proceeding, the user records a video acknowledgment of risk and waiver of indemnity, securely stored for compliance purposes.
KYT for External Wallet: The user’s external wallet address undergoes KYT verification for compliance.
Crypto Purchase and Delivery: Once fiat is received, the platform initiates a crypto purchase via the liquidity provider, deducting a pre-set commission.
Crypto Transfer: The acquired crypto is transferred to the user’s external wallet, completing the transaction.
Off-Ramp (Crypto to Fiat):
User Process: The user submits crypto (BTC, USDT) for fiat conversion, undergoing initial KYC if not already completed.
Immediate USD Conversion: Upon receiving crypto, the platform converts it into USD through the liquidity provider to minimize exposure.
Instant Fiat Payout: Using an external fiat provider (e.g., Modulr), the user receives an IOU equivalent to the converted amount in their chosen fiat currency (GBP, EUR) for an immediate experience.
Settlement Period: The backend processes the 24-hour BitGo settlement for USDT, ensuring our system’s liquidity while the user experiences no delay in the fiat payout.
Technical Stack:
Backend: Node.js
Frontend: React
Databases:
MongoDB for user management, blockchain logs, and transaction data.
PostgreSQL for fiat settlement data.
MongoDB + Document Storage for storing KYC files and video waivers.
Redis for session management and API rate limiting.
Elasticsearch for audit logs.
Integrations:
Wallet Infrastructure & Liquidity: BitGo for wallet management and liquidity provision.
Pricing API: CoinMarketCap for real-time rate fetching.
Fiat Payout: Modulr for handling fiat deposits and payouts in GBP and EUR.
KYC & KYT: Sumsub for KYC verification during onboarding, KYT for wallet address validation, and video acknowledgment for risk and indemnity.
File and Video Storage:
File storage for KYC documentation and video storage for waiver acknowledgments. Video recordings will capture the user’s verbal acknowledgment of risks and indemnity waiver, stored securely for audit purposes.
Development and Communication Requirements:
Timezone and Communication: Freelancer must be available during UK business hours and provide daily updates at the start of each day.
Quality and Security Compliance: The project requires regular code submissions via Git, following best practices and structured code reviews to maintain quality, security, and compliance.