Client
The client is an Australian-based online forex broker founded by industry veterans with 50+ years of combined experience. Their company aims to deliver radically low trading costs and exceptional customer support to traders at all levels, making crypto exchange accessible and affordable. Regulated by leading authorities, they offer a secure and transparent platform for trading diverse financial assets.
Business Challenge
Cryptocurrency traders often face several challenges using cryptocurrency exchanges: high trading fees, hidden charges, and unclear pricing models are common. Those issues lead to unpredictable costs involved in transactions. The client wanted to increase transparency and decode complex fee structures.
In addition, many competitor platforms offered clunky user interfaces, making the trading experience inefficient for both beginners and experienced users.
Solution
The client partnered with Coherent Solutions to start crypto exchange platform development and get a more straightforward and cost-effective solution for addressing crypto traders’ pain points.
Extensive expertise in financial markets helped the client define key features of the crypto exchange solution, which our team successfully implemented.
Flat Fee Calculation
The platform offers a transparent fee structure with a flat 0.25% trading fee. There are no hidden charges, additional fees for conversions or different order types, or complicated fee tiers based on volume — traders know what to expect with each transaction.
Intuitive User Interface
The straightforward user interface caters to both novice and experienced traders. It prioritizes accessibility, makes the crypto exchange platform simple for first-time users, and provides powerful optimization tools for advanced traders.
Security as a Top Priority
The client relied on our development team to incorporate industry-standard encryption and two-factor authentication to handle transactions and user data safely at all levels.
Crypto Exchange Mobile App Development
The client requested mobile app development for Android and iOS to make the platform even more accessible to users. The development is currently underway and will soon enhance the user experience.
To boost the user base on the client's crypto platform, our developers implemented platform integration with the client's FX broker application. This integration lets users both trade on the servers and transfer funds to the crypto exchange. For the client, it means users no longer withdraw funds from the platform to purchase crypto on competitor services, keeping capital within their ecosystem.
Project Timeline
Phase 1: Beta Version
1.5 years after financial software development started, our team launched the beta version. This version was deployed only for the stakeholders, giving enough time for initial testing and feedback.
Phase 2: Production Release
6 months after the beta launch, we released the product. The platform was fully deployed to production and is now available to the public, with added payment methods and a new crypto exchange provider integrated.
Phase 3: Crypto Exchange Mobile App Development
5 months after the production release, our team started creating a mobile application. The app for Android and iOS began to further expand accessibility and functionality on the go for crypto traders.
Impact
Our team built a crypto trading platform from scratch that saw user growth from the first day in production. The client achieved higher user retention through seamless trading and fund transfers.
This crypto exchange platform provides a seamless trading experience and transparency without hidden charges or complicated fees. Over two years, Coherent Solutions has been delivering results on time, helping the client achieve important overarching business outcomes:
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User growth: During the first six months in production, the platform attracted 15,000 new active users.
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Early success: The platform’s transparency, flat 0.25% trading fee, and no hidden charges resonated with traders.
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Mobile access: Ongoing development of mobile apps for Android and iOS will make the platform more accessible to users.
The collaboration with Coherent Solutions helped the client set the stage for long-term growth and position the platform as a trusted solution for crypto traders.
