Nov 24, 2022
No image
Completed

Ultorex | Centralized Crypto Exchange

$25,000+
2-3 months
Saint Vincent And The Grenadines
6-9
view project
Service categories
Service Lines
Blockchain
Web Development
Domain focus
Banking & Financial Services
Subcategories
Blockchain
Exchange
Wallet Development

Challenge

First and foremost, the wallet integration accepts only a fixed number of blockchain platforms & cryptocurrencies. Expansion requests were declined due to resource shortage, which significantly affected Ultorex’s platform offerings and potential scalability. Operation is another staggering problem, as the team discovered that the infrastructure and service costs paid to the third-party provider were substantially greater than expected. Users are also having a hard time navigating the wallet to manage their funds.

Solution

Progress and documentation were transparent between both parties, with our Project Manager as the main contact point. Within 6 months, our team successfully delivered a new version of the platform, packed with powerful features for both the Ultorex team and its users. - A native wallet that is compatible with multiple chains and cryptocurrencies - Infrastructure upgrades that allow low spreads and fast processing transactions - Sub-account feature for optimal portfolio management - Staking and earning feature with high ARP/APY The new version also comes with a sleek user experience, along with open API that makes adding new cryptocurrencies much quicker and easier.

Results

As of November 2022, Ultorex supports exchange between 13 fiat currencies and 35+ cryptocurrencies – figures that would be unachievable if the platform still employed the preceding infrastructure with a third-party wallet solution. Built with performance in mind, Ultorex is now home to thousands of accounts, attracting over 3 million of monthly traffic during high seasons.