App Store
GooglePlay
Industry
Cryptocurrency, Blockchain
Project duration
Sep 2020 - Oct 2021
Country state
Canada
Team
2 Members
Technology
NDAX is a cryptocurrency exchange which is fully integrated into the Canadian banking system 🏃
NDAX was created with both retail and institutional clients in mind. The philosophy is to engage with regulators and financial institutions to set the standard for the Canadian cryptocurrency industry.
Results ✨
Integration
Integrated into the Canadian banking system and created with both retail and institutional clients in mind
Standards
NDAX was developed with the high quality, security and compliance standards to remain their customers’ funds in Canada in a segregated bank account
Separation
It can legally separate from NDAX’s operating capital and comply with Canadian banking laws, providing an additional layer of safety and security
Project goals ⚡️
The main NDAX’s goal is to provide instant ID verification, lowest fees in canada, largest portfolio of coins in Canada, 24/7 live support to their customers.
WeSoftYou was driven to build the most advanced cryptocurrency trading mobile platform that offers the largest portfolio of digital currencies in the country based on institutional-grade infrastructure. The strong banking partnerships make cryptocurrency trading fast, simple, and secure for all Canadians.
Challenges ⛰
01.
Regulatory Compliance: Navigating and complying with evolving cryptocurrency regulations in Canada poses a challenge for NDAX and WeSoftYou.
02.
Scalability and Performance: Building a robust and scalable trading platform that can handle high volumes, market fluctuations, and deliver fast order execution is a challenge.
03.
Security and Risk Mitigation: Ensuring the security of user funds, protecting against hacking attempts, and mitigating risks are key challenges for NDAX in maintaining trust and safeguarding the platform.
The process 🚧
The development process of NDAX, a leading cryptocurrency exchange integrated into the Canadian banking system, was driven by a commitment to excellence and innovation. Collaborating with WeSoftYou, a prominent software development company, NDAX aimed to create the most advanced mobile trading platform with a vast portfolio of digital currencies. The process involved extensive research and engagement with regulators and financial institutions to ensure compliance with evolving cryptocurrency regulations in Canada. Scalability and performance were prioritized, resulting in the development of an institutional-grade infrastructure capable of handling high trading volumes and market fluctuations. Additionally, robust security measures and risk mitigation strategies were implemented to safeguard user funds and protect against potential threats. The outcome of this development process was a fast, secure, and user-friendly platform that offers instant ID verification, the lowest fees in Canada, a wide range of coins, and 24/7 live customer support, thereby setting a new standard in the Canadian cryptocurrency industry.
Stages 🎢
01.
Planning and research. The initial stage involved comprehensive planning and research to define the project scope, identify target market segments, analyze regulatory requirements, and conduct market research on user preferences and industry trends.
02.
Design and prototyping. This stage focused on designing the user interface (UI) and user experience (UX) of the mobile trading platform, creating wireframes and prototypes to visualize the platform's functionalities and gather feedback from stakeholders.
03.
Development and integration. The development stage involved coding and programming the platform's features, integrating necessary APIs, and building the institutional-grade infrastructure required to handle high trading volumes and ensure performance and scalability.
04.
Regulatory compliance and security implementation. NDAX and WeSoftYou collaborated closely to ensure compliance with Canadian regulations and implement robust security measures. This stage involved incorporating KYC and AML procedures, encryption protocols, two-factor authentication (2FA), and cold storage solutions for safeguarding user funds.
05.
Testing and Quality assurance. Rigorous testing was conducted to identify and rectify any bugs, vulnerabilities, or usability issues. This included functional testing, performance testing, security audits, and user acceptance testing to ensure a seamless and secure trading experience.
06.
Deployment and launch. The platform was deployed to production servers, and final preparations were made for the official launch. This stage involved fine-tuning configurations, conducting final checks, and coordinating with banking partners and regulators to ensure a smooth go-live process.
07.
Ongoing maintenance and support. Once the platform was launched, ongoing maintenance, monitoring, and support were provided to address any user inquiries, technical issues, and implement necessary updates.
Team composition 👨💻
1 Mobile Developer
1 Tech Lead
Technology stack ⚙️
Front-end: Javascript, React Native
Core features 💻
Cross-platform cryptocurrency mobile application
- NDAX offers a versatile mobile application that is accessible across different platforms, allowing users to trade cryptocurrencies conveniently and securely from their preferred devices.
Compliance with Canadian banking regulations
- NDAX ensures strict compliance with Canadian banking regulations, including Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements, to maintain a trusted and regulated trading environment for its users.
Adherence to Canada’s highest security standards
- NDAX prioritizes user security by implementing robust security measures, such as encryption protocols, two-factor authentication (2FA), and adhering to Canada's highest security standards, safeguarding user funds and personal information from potential threats.
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