Custom Trading Platform for an Investment House‑Based Multi‑Asset
Psagot Trade
2024
Topics
Retail Broker
Founded in 2017, this client combines their experience from physical floor trading with retail options trading in the US to offer a distinct market perspective.
The project
Our client is an investment house that combines expertise from physical floor trading and retail options trading in the U.S. to offer a unique market perspective. As a future‑focused business, they recognized the growing demand for decentralized finance (DeFi) and the increasing number of cryptocurrency users.
To stay ahead of competitors, they sought to integrate crypto functionality into their trading platform for traditional assets, enhancing their offering and strengthening user retention. We designed and developed a self‑custody HD‑wallet tailored to the client’s needs. The wallet ensures users have full control over their funds by managing private keys independently, providing a secure and scalable solution.
This innovative wallet allows users to create multiple accounts from a single seed phrase, integrating seamlessly with the existing trading platform and laying the foundation for potential future Web3 initiatives.
“Taking on this project gave us an opportunity to tap into different areas of our expertise, providing a fresh and multi‑faceted perspective backed by experience. The client wanted to take a bold direction, but also wanted to make sure the development phase was extremely thorough, factoring in security, performance, regulation and the ability to pivot with future priorities.”
Melania Winitsky
Project Manager, Devexperts
Challenge
Like any future‑focused business, the client wanted to proactively adapt their offering to stay ahead of their competitors. Noticing the number of crypto users growing each year, the client had also observed a high demand for access to decentralized finance.
The client realized the opportunity to strengthen user retention, by providing a crypto wallet that operates within the same ecosystem as their trading platform for traditional assets:
- The firm had always seen crypto as a market with great upside potential.
- The move would create additional benefits if it decided to launch a web3 product in the future
- They would start from a strong foundation
Solution
Devexperts selected a self‑custody HD‑wallet with additional functionality as the target solution. Self‑custody means users manage their private keys independently from a marketplace. This ensures they have full control over their funds without relying on a third party. A HD‑wallet, or Hierarchical Deterministic wallet, allows for the generation of a tree of keys from a single seed phrase. This enhances security and convenience by enabling users to have as many accounts as they need, without sharing their keys with anyone.
A HD‑wallet, or Hierarchical Deterministic wallet, allows for the generation of a tree of keys from a single seed phrase. This enhances security and convenience by enabling users to have as many accounts as they need, without sharing their keys with anyone.
Results
Devexperts built an MVP from scratch in a few months, and after a few adjustments dictated by marketing needs, the wallet was launched into operation. The user base has been growing steadily since then, and now the wallet has hundreds of active users who make thousands of transactions daily. The solution supports simultaneous usage by a few thousand users, ensuring it meets the needs of the current user base and can accommodate future growth. Additionally, the architectural foundation of the wallet allows new functionality to be added swiftly and with high quality. This solution possesses great development potential.
Share this article
Reach out to use to see how we can help your business
More case studies
