Crypto Exchange with KYC — Crypto.bg Case Study
The full story behind building a regulated crypto exchange for the Bulgarian market — from KYC verification and multi-currency wallets to automated compliance and bank integration.
The Challenge
Crypto.bg wanted to become the first fully regulated crypto exchange in Bulgaria. The founders had a clear vision: a platform where Bulgarians could easily buy and sell cryptocurrencies via bank transfer in BGN, with full regulatory compliance and transparent pricing.
- KYC verification had to comply with European AML directives and Bulgarian legislation
- Wallet system required hot and cold wallet architecture with multi-signature security
- Integration with Bulgarian banks for BGN deposits and withdrawals was needed
- The order matching engine had to process thousands of orders per second
- Security was critical — any breach could mean millions in losses
The deadline was 4 months until license application submission, meaning the platform had to be fully functional and audited by an external security firm.
Our Solution
We designed the platform with focus on three pillars: security, compliance, and user experience.
KYC Verification System
We integrated Sumsub for automatic ID verification including OCR, liveness checks, PEP screening, and automated risk scoring. 95% of verifications passed automatically in under 3 minutes.
Trading Engine
Custom order matching engine in C# optimized for low latency. Supports limit and market orders with real-time order book via WebSocket. Average matching latency under 5ms.
Wallet Infrastructure
Two-tier wallet system — hot wallet for daily operations (up to 5% of assets) and cold wallet with multi-signature for main funds. HSM for private key management.
Technology Stack
Backend: C# .NET 8, microservices
Database: PostgreSQL + Redis
Frontend: Next.js 14, TradingView
Security: HSM, 2FA, WAF
Results
The platform passed external security audit and received the necessary license. Crypto.bg became one of the few fully legal crypto platforms in Bulgaria with BGN integration.
"Saitami understood not just the technical side, but the regulatory requirements. The platform passed the audit on the first try without remarks. That is unheard of in the crypto industry."
Alexander Petrov, CEO of Crypto.bg
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