Legal compliance: First and foremost, make sure you’re not violating any laws or treading outside of regulatory guidelines. Proper due-diligence to understand the laws and regulations in your jurisdiction is of utmost importance, and obtaining the requisite licensing prior to launching is key. Determining the type of license required depends on the type of products you intend to bring to market and the type of exchange marketplace you’re bringing online. Every jurisdiction is different, so work closely with your legal team and local regulators to determine what is right for your operation.
Banking and payment integration: You can’t have a functioning exchange without a way for people to deposit and withdraw fiat currency (Dollars, Euros, Pesos, etc). It’s critical to identify the necessary partners, and establish an on/off ramp with a bank and payment processor.
Trading platform: Now that you’ve got the groundwork in place, it’s time to work together on launching a platform that’s operationally functional, admin friendly, lightning fast, and capable of handling a large volume of trades without crashing. It’s of equal importance to dial in a sleek and engaging UI/UX front-end experience for your user base.
Security measures: Keep bad actors at bay by employing advanced security controls. Enabling 2FA, utilizing cold storage, and performing regular audits all offer practical protection against security threats.
Pair these security features with a reliable third-party custodial integration like Fireblocks, BitGo, or Anchorage Digital, among other available options, and leave nothing to chance by taking all available measures against risk.
Customer support: At the start of your operation, users will inevitably have questions and raise issues. Make sure you have an internal support and tech operations team in place to assist them and keep traders happy, along with easily accessible FAQ and How-To resources.
Marketing and outreach: Get the word out about your exchange, utilizing every approach available like targeted digital ad buys, rich social media content, and regional conference/event sponsorships. It’s essential to establish a presence prior to and immediately after launch, so explore any and all opportunities for exposure and visibility.
Interested in more information on launching a crypto exchange? Additional reading here.
Why AlphaPoint?
Since 2013, more than 150 client institutions in over 35 countries have chosen AlphaPoint’s white label software solutions to trade digital assets and execute their blockchain strategies. AlphaPoint is a pioneer in the white label space, developing secure and stable institutional-grade marketplace technology that’s innovated the way we send, receive, and store value globally.
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