INR digital-asset exchange — interactive proposal.
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01 · Overview · Prepared via partner · Confidential · July 2026

A full-feature INR digital-asset exchange — built to be owned, not rented

A legally-clean spot core first, engineered so every later phase (derivatives, earn, institutional) is an upgrade, not a rebuild. Source code and IP sit with your developers from day one.

The skeleton at a glance — aligned July 9, 2026

Scope: spot core (INR / BTC / USDT) · Then: derivatives, options, earn, card as separately priced phases · IP: code open to your developers, ownership transferred by stage · Commercials: hour-level WBS follows Phase-0 discovery. Everything marked FUTURE VISION is deliberately beyond skeleton scope.

3 marketsINR · BTC · USDT at launch
4-level KYCAadhaar / PAN / CKYC rails
~99% colddistributed cold-storage target + monthly PoR
1% TDSwithheld & reported automatically per qualifying transfer
A partner, not a vendor
What you get
Our reading of the RFP

You own everything

Repositories under your organisation from day one; IP transfer is staged and contractual, not a promise.

Free to leave by design

Every third-party component sits behind an adapter you own; swapping a vendor never means rewriting the platform.

India layer is the product

TDS, GST, Aadhaar-KYC, FIU reporting engineered as first-class modules — not bolted on.

Transparent economics

T&M with itemized modules and open third-party costs; no revenue share, no per-seat licensing.

Phased commitment

You commit to Phase 0 first; every phase ends at a readiness gate you control.

Security before features

Two of India’s top exchanges were breached in 2024-25; cold custody, PoR and incident playbooks lead our design.

Phase 0

Discovery & foundation

Architecture spec, vendor shortlist, FIU-IND regulatory mapping, hour-level WBS. 3–4 weeks.

Phase 1

Spot skeleton

Trading core per chosen path, Simple + Advanced UI, 4-tier KYC, INR ramps, custody, TDS/GST engine, reporting, admin, mobile, APIs.

Phase 2

Derivatives

Perpetual + quarterly futures, margin, insurance funds, ADL, mark-price. Priced separately, regulatory assumption flagged.

Phase 3

Earn & institutional

Staking, savings, launchpad, auto-invest; OTC desk, sub-accounts, broker program, crypto card via partner.

Run

Support & compliance ops

Severity-first SLA, retainer with rollover, plus STR/TDS/PoR operations track.

Always

IP & knowledge transfer

Staged ownership matrix, your engineers embedded from Phase 1, handover gates per phase.

What the RFP asks

A Binance-class surface: 3 spot markets, USDT-M/COIN-M futures, European options, margin, OTC, convert, portfolio margin, 7 earn products, ~99% cold storage, monthly PoR, REST/WS/FIX, mobile parity, matching at millions of TPS — plus the full India VDA compliance stack.

Our honest reading

This is 3+ years of product surface. The RFP itself asks for phased delivery — we agree, and we structure it so the spot skeleton is legally clean on day one and nothing built in Phase 1 is thrown away later. Contracts and schemas are designed for the full system; implementations arrive in phases.

02 · Market

Competitive field & market hits

Two research passes across the Indian market, July 2026, from public reporting. The pattern: compliance-first exchanges with real distribution win; everyone else fights for the ~10% of volume that has not gone offshore.

The business case
Competitive map
The graveyard
Market hits — where we aim
Market leader

CoinDCX

20M+ users; Coinbase took a minority stake at a $2.45B valuation (2025). Survived a $44M operational-wallet breach in July 2025 — user funds untouched, reputation dented.

Retail scale

CoinSwitch

20M+ registered users; parent PeepalCo diversifying into stockbroking. Strength: mobile-first simplicity.

Derivatives monopolist

Delta Exchange India

The FIU-registered home of INR-settled crypto F&O — futures and options on BTC/ETH and 50+ alts, margined and settled in rupees.

Global heavyweight, new entry

Coinbase India

Relaunched June 1, 2026 with direct INR rails via IMPS and perpetuals from day one; UPI and options on the 12-month roadmap.

Global liquidity, P2P rails

Binance

FIU-registered after a $2.25M penalty; the de-facto largest venue for Indian users, but INR flows run through P2P escrow, not bank rails.

Niche & B2B

Mudrex · ZebPay · others

Mudrex: 3M+ users, strong B2B INR off-ramp. ZebPay, Giottus, Unocoin: second tier fighting for niches.

Figures from public reporting as of July 2026; to be footnoted in the final version.

July 2024

WazirX — $234M multisig breach

Lazarus-attributed compromise of custody infrastructure. A full year offline; creditor scheme approved October 2025 with recovery near 55%; relaunched under new custody — market share largely gone.

July 2025

CoinDCX — $44M operational wallet

Internal liquidity-provisioning wallet drained via a compromised server. User funds segregated and untouched — but 17 hours of silence became its own scandal.

The takeaway

India’s two most famous exchange failures were not matching-engine failures — they were custody and operational-security failures, compounded by silent comms. Trust is the scarcest asset on this market; that is why cold custody, PoR and incident playbooks lead this proposal.

Hit 01

The India layer does not exist off the shelf

1% TDS per qualifying transfer, Schedule VDA reporting, GST on fees, Aadhaar/PAN/CKYC video-KYC, push-only UPI (NPCI, Oct 2025), FIU-IND reporting with a no-threshold Travel Rule — none of this ships in any white-label box.

→ lands in: Architecture 06 · Anatomy 04

Hit 02

Security is the product

After WazirX and CoinDCX, Indian users read PoR dashboards before fee schedules. MPC custody, ~99% cold target, monthly Merkle attestations, incident comms playbook.

→ lands in: Requirements REQ-22..28

Hit 03

INR-settled derivatives are the growth segment

Delta proved the model; Coinbase entered with perpetuals on day one. Tax treatment of crypto F&O is still a grey zone — opportunity and regulatory risk, so Phase 2 ships with explicit assumptions.

→ lands in: Phase 2 · Open decisions 09

Hit 04

Regulation decides this quarter

The parliamentary committee report on VDAs lands in the Monsoon Session 2026. Either a licensing regime or bank ring-fencing. The FIU/PMLA core is mandatory under both outcomes — so we build it first and keep the rest modular.

→ lands in: Open decisions 09

Hit 05

Distribution beats features

~90% of Indian volume sits offshore. Your bank-channel distribution is the one advantage Binance cannot copy. The product must convert bank customers: simple mode, instant KYC, INR-native UX.

→ lands in: Overview · Vision 03

Hit 06

The window is narrowing

Coinbase is already in with direct INR rails. Speed argues for a white-label start — but only with an engineered migration path so you are never locked in. That is Path 2.

→ lands in: Paths 07

Every hit is anchored to sources in our market research pack (available on request). The revenue math these hits earn you → next tab, The business case.

A live model, not a promise — every figure marked ASSUMPTION is a slider your team can replace with internal data; the framework holds. The claim: with the six hits above, a bank-distributed, compliance-first exchange has a defensible claim on a slice of the onshore INR market — here is what that slice is worth against what it costs.

Onshore addressable volume / yr ASSUMPTION
Your market share target
Blended take rate ASSUMPTION
—Annual trading revenue
—Build (one-off, corridor mid)
—Annual run (vendors + support)
—Revenue vs annual run

Why the share target is defensible

Context from public reporting: India counts 119M+ crypto users and ~$340B/yr of crypto transaction volume, ~90% of it offshore. The onshore slider above is the fraction that trades on FIU-registered venues — the pool a compliant, bank-distributed exchange competes for. A bank channel converting even a single-digit percentage of its customers puts the share slider within reach; Delta built a derivatives franchise from a standing start on less distribution.

How to read it for investors

One-off build sits in the pre-discovery corridors of section 08 (mid of Option B shown here); annual run combines third-party vendors (section 08, TCO tab) with support & compliance ops (section 10). The model deliberately excludes spread/listing/earn revenue — upside, not baseline. Replace any slider with your internal numbers and the picture recomputes.

Not a forecast: a sizing frame. All inputs marked ASSUMPTION are yours to overwrite; sources for the fixed context figures are in the research pack.

03 · Vision

The exchange, live

An illustrative simulation of the trading core. Pick a scenario — the left panel narrates what the platform does step by step, the book and tape react live. Vision prototype, not the delivered UI.

Scenario

Calm market

—Mid price (INR)
—Spread
—Book imbalance
—TDS withheld (session)
Calm market Volatility spike Liquidation cascade Large withdrawal KYC rejection TDS view
BTC / INR · ORDER BOOK · SIMULATED
TRADE TAPE & PLATFORM EVENTS

Green rows = bids, red rows = asks around the mid price; the right column is the public trade tape plus amber platform events — the operational actions (risk, custody, compliance) a user never sees but a regulator audits. Each scenario is anchored to requirements from section 05.

04 · The section your other bidders will not show you

Anatomy of one trade

Drag the amount — one trade travels the full Indian regulatory machine, with the exchange’s obligation at every step. Then flip the switch: the same flow on a stock white-label, out of the box.

₹500₹50,00,000
Trade amount
Deposit rail (auto)
KYC tier required
Our build — every step covered. Click to see a typical white-label, out of the box
What the exchange must do
Regulatory ledger (simulated)

Illustrative. Fee assumed 0.1% taker; TDS 1% u/s 194S above the statutory threshold; GST 18% on the platform fee; rates as publicly known, July 2026. MISSING = ships in no off-the-shelf box; PARTIAL = a generic capability exists but the India-specific part is custom; VENDOR COVERS = genuinely the licensed core’s job. Ask any bidder to show you the path of one rupee.

05 · Requirements

Requirements & scope

Your RFP, restated as a traceable register: 50 requirements, each with criticality and target phase. This register is the spine of the offer — architecture, paths and pricing all cite it.

Requirements matrix
In & out of scope
Module streams
Technology stack
All Must High Should Info
IDCategoryRequirementCriticalityPhase
REQ-01TradingSpot trading across INR, BTC and USDT markets; INR as primary fiat pairMustP1
REQ-02TradingAdvanced Trade interface: professional charting (TradingView-class), depth charts, limit / stop / market ordersMustP1
REQ-03TradingSimple Mode: beginner one-click buy / sellMustP1
REQ-04TradingFutures: USDT-M and COIN-M perpetual and quarterly contractsHighP2
REQ-05TradingOptions: European-style crypto options + Simple Options beginner interfaceShouldP2
REQ-06TradingMargin trading: cross and isolatedHighP2
REQ-07TradingOTC desk for large block tradesShouldP3
REQ-08TradingConvert: instant swap at quoted price, no order bookHighP1
REQ-09TradingPortfolio Margin mode: unified cross-product riskShouldP3
REQ-10TradingP2P trading OUT of scope; frictionless fiat on/off-ramp preferred insteadMustP1
REQ-11OrdersMarket, Limit, Stop-Limit, OCO order typesMustP1
REQ-12OrdersTrailing stop, post-only, reduce-only, TP/SLHighP1
REQ-13OrdersTWAP and Iceberg via advanced interfaceShouldP2
REQ-14EarnStaking, Flexible and Fixed-Term SavingsHighP3
REQ-15EarnLaunchpool, Launchpad, Auto-Invest, Dual InvestmentShouldP3
REQ-16KYC4-level tiered KYC with increasing limits; mandatory before any trading, deposit or withdrawalMustP1
REQ-17KYCNational identity documents: Aadhaar / PAN, bank-account verification at top tierMustP1
REQ-18KYCStreamlined EDD flow with high pass ratesHighP1
REQ-19AccountsSingle unified account across spot, margin, futures; free instant internal transfersHighP1
REQ-20AccountsVIP program: volume-based tiered fee discountsShouldP2
REQ-21AccountsSub-account management (optional / later phase)InfoP3
REQ-22Security2FA (TOTP, SMS, email), passkey / biometric login, anti-phishing codeMustP1
REQ-23SecurityWithdrawal address allowlisting, device management, separate withdrawal password, IP whitelistingMustP1
REQ-24SecurityMulti-signature / MPC cold storage, target ~99% of funds offline, geographically distributedMustP1
REQ-25SecurityProof of Reserves: monthly Merkle-tree audits, public dashboardMustP1
REQ-26SecurityInsurance / protection reserve fund in cold storage; insurance on custodied assetsHighP2
REQ-27Security24/7 AI fraud detection, AML team tooling, stolen-funds tracking and freezingMustP1
REQ-28SecurityISO 27001 / 27017 / 27018 / 27701 alignment; law-enforcement request portalHighP2
REQ-29APIREST + WebSocket APIs, order management and market data endpoints, API key managementMustP1
REQ-30APIFIX API for institutional low-latency connectivityShouldP3
REQ-31APITestnet environment, SDKs (Python / Node / TS), MPC wallet SDKHighP2
REQ-32FiatINR on/off ramp: bank transfer, cards, UPI via partners; SWIFT for cross-borderMustP1
REQ-33FiatTiered withdrawal limits by KYC level; bank-transfer rails gated by KYCMustP1
REQ-34FiatCrypto card for daily spending (via issuing partner)InfoP3
REQ-35PlatformiOS and Android apps with full feature parity; polished desktop webMustP1
REQ-36EngineHigh-performance matching engine: target millions of TPS at minimal latencyHighP1
REQ-37EngineReal-time depth chart, order book, DOM heat maps, order-flow statistics, funding-rate trackerHighP2
REQ-38EngineListing application portal; volume-based maker/taker fee tiers; data export center (CSV)ShouldP2
REQ-39RiskIsolated + pooled insurance funds, ADL, liquidation calculator, mark-price systemHighP2
REQ-40GrowthReferral and affiliate programs; price alerts and notificationsShouldP2
REQ-41TransparencyMonthly transparency reports, announcement center, anti-scam verification portalShouldP2
REQ-42ComplianceVDA service-provider registration readiness (FIU-IND), STR reporting, Travel Rule, multi-year record retentionMustP1
REQ-43ComplianceAutomated 1% TDS handling on qualifying transactions, with reportingMustP1
REQ-44ComplianceGST handling on platform service fees; tax-ready statement generationMustP1
REQ-45ComplianceDerivatives / leveraged products: jurisdictional restrictions flagged as explicit assumptionsMustP2
REQ-46InstitutionalInstitutional custody, services desk, broker program, token managerInfoP3
REQ-47EducationAcademy, research content, in-app learningInfoP3
REQ-48CommercialItemized cost breakdown by module; phased delivery (spot core first); optional items priced separatelyMustP0
REQ-49CommercialOngoing hosting, support, maintenance and compliance-operations model with pricingMustRun
REQ-50CommercialIP and source-code ownership transferred to client; code open to client developersMustP0

Source: Exchange Development RFP, sections 3–18. Filter by criticality above.

In scope

What we build and integrate

  • Spot core, order types, Simple + Advanced UI, mobile apps, admin
  • The India layer: TDS/GST engine, Aadhaar/PAN/CKYC KYC, FIU-IND reporting, Travel Rule
  • Custody integration (MPC + cold), PoR pipeline, security controls
  • INR rails via payment partners; derivatives and earn as later phases
  • IP and knowledge transfer as an explicit workstream
Out of scope / client-side

What stays with you (we assist)

  • P2P trading — excluded by the RFP; replaced by first-class fiat ramps
  • Regulatory registrations and licenses (FIU-IND FINgate filing) — yours, we prepare the technical dossier
  • Banking / payment-partner commercial agreements — yours, we shortlist and integrate
  • Vendor contracts (custody, KYC, market making) — paid by you directly, listed in 3rd-party TCO
  • Liquidity capital and market-making agreements

Foundation

Discovery, architecture spec, regulatory mapping, vendor shortlist, DevOps baseline, QA framework, documentation. The only stream you commit to first.

Exchange core

Trading UI (web + mobile), backend gateway + admin, engine integration or build per path, market data, fiat-ramp logic, risk wrappers, audit trail.

India compliance layer

KYC orchestration (Aadhaar/PAN/CKYC/V-CIP), TDS engine, GST invoicing, FIU-IND reporting, Travel Rule, sanctions/PEP screening, case manager.

Custody & security

MPC integration, cold/hot policy engine, allowlisting, device management, PoR pipeline, incident playbooks, pen-test coordination.

Derivatives (Phase 2)

Perpetual/quarterly futures, margin engine, insurance funds, ADL, mark-price, funding rates, liquidation infrastructure.

Earn & institutional (Phase 3)

Staking, savings, launchpad/launchpool, auto-invest, dual investment, OTC desk, sub-accounts, broker program, crypto card via partner.

Streams follow our 103-module exchange decomposition, proven on a comparable CEX engagement. Full module list arrives with the WBS after Phase 0.

LayerDirectionNotes
Matching enginePer path: licensed white-label engine (HollaEx / AlphaPoint class) or custom build (Go/Rust) behind an adapter you ownThe adapter contract is identical in both cases - that is what makes Path 2 possible
CustodyMPC platform (Fireblocks / BitGo / Copper class) + distributed cold storageVendor choice is an open decision; policy engine and allowlisting are ours
KYC / IDVIndia-native vendor for Aadhaar/PAN/CKYC/V-CIP (HyperVerge / Signzy class) + global vendor for Travel Rule and sanctions (Sumsub class)Two-vendor pattern: local rails + global compliance
KYT / monitoringChainalysis / Elliptic class transaction monitoringFeeds the compliance case manager
Market data / chartingTradingView Advanced Charts (free license on approval) + own market-data serviceOwn service is mandatory - it feeds APIs, alerts and derivatives later
Fiat INR railsPayment aggregator first (Transak / Onmeta class), direct bank + UPI via partner as volumes growPush-only UPI; IMPS/NEFT for size; nodal account reconciliation
Blockchain nodesManaged node provider + own nodes for BTC / ETH / TRONUSDT-TRON is the workhorse of INR flows
Cloud & infraAWS/GCP, Kubernetes, IaC, observability; India-region residency as an open decisionCERT-In audit readiness from day one

Vendor names are classes, not commitments — final selection lands in Phase 0 with verified quotes.

06 · Architecture

Architecture

Toggle the phases — the platform grows without rebuilding: contracts and schemas are designed for the full system from day one. Every block is clickable: design intent, effort corridor, gotchas and the requirements it covers.

Phase 1 · Spot skeleton
+ Phase 2 · Derivatives
+ Phase 3 · Earn & institutional
Clients
Web + mobile trading UIExchange coreeffort L$34–58K
Public API (REST / WS)Exchange coreeffort M$7–12K
FIX APIInstitutionaleffort M$8–14K
Platform core (owned)
Gateway · accounts · adminExchange coreeffort L$24–39K
Matching engine adapterExchange coreeffort L$13–22K; custom build +2,000–3,400 h
Market data serviceExchange coreeffort M$7–12K
Futures & margin engineDerivativeseffort L$50–86K
Risk & liquidation stackDerivativeseffort L$24–40K
India layer (owned - the moat)
KYC orchestrationIndia layereffort L$13–21K
TDS & GST engineIndia layereffort M$11–19K
FIU-IND & Travel RuleIndia layereffort M$14–24K
INR on/off-rampIndia layereffort M$11–19K
Assets & products
Custody & wallets (MPC + cold)Custody & securityeffort L$15–25K
Proof of ReservesCustody & securityeffort M$6–10K
Security hardeningCustody & securityeffort M$8–14K
Earn suiteEarneffort L$37–64K
OTC & institutionalInstitutionaleffort M$27–46K
Crypto card (partner)Institutionaleffort M$9–15K
Foundation
DevOps · observability · CERT-In-ready loggingFoundationeffort M$9–15K

Why "vendors behind adapters"

The engine, custody platform, KYC vendors and node providers all sit behind interface contracts owned by you. This is what makes the white-label start safe: the contract never degrades, only the implementation behind it changes. It is also the technical form of the IP requirement.

Why "compliance in the core"

TDS, KYC tiers, FIU reporting and Travel Rule are enforced in the transaction path itself, not in a nightly batch. A trade that cannot be reported is a trade that does not execute. That is the difference between compliant on paper and surviving a CERT-In audit.

Effort corridors are pre-discovery, at a blended $50/h; they harden into the WBS after Phase 0. Grey blocks belong to phases not yet toggled on.

07 · Build vs buy

Build vs buy — three honest paths

Same product, three ways to deliver it — side by side, no strawmen. The biggest cost decision is not a feature: it is whether you license the trading core or build it. Cost rows are pre-discovery corridors at $50/h; they recompute into a WBS after Phase 0.

Comparison matrix
The three paths
Also evaluated & ruled out
CriterionPath 1 · White-label + India layer★ Path 2 · Progressive (recommended)Path 3 · Fully custom
Ownership & IP
Source code & IP position◑ Everything except the licensed engine✓ Everything except the engine, with contractual exit✓ Everything, period
Own order books / own pairs✓ Yes - your books on a licensed engine✓ Yes - same at launch✓ Yes - fully yours
Vendor lock-in✕ Real - engine swap is an unplanned project✓ Engineered away: adapter + migration playbook✓ None
Delivery characteristics
Time to spot skeleton✓ ~4–5 months✓ ~4–6 months✕ ~7–10 months
Effort corridor✓ 4,540–7,660 h✓ 4,680–7,900 h◑ 6,840–11,560 h
Cost corridor @ $50/h✓ $227K–$383K · mid $305K✓ $234K–$395K · mid $314K◑ $342K–$578K · mid $460K
Team size (peak)✓ 8–10✓ 8–10◑ 10–14
Engine cost, ongoing◑ License: free tier to $200K+/yr, rev-share tiers between◑ License until migration, then zero◑ None - engine SRE burden instead
Risk & growth
Regulatory-pivot readiness◑ Constrained by vendor roadmap✓ High - India layer and contracts are yours✓ High
Derivatives at scale (Phase 2)◑ Depends on vendor's derivatives module✓ Start on vendor, migrate the hot path when volumes justify✓ Native from day one
Watch-outs — the trade-off you accept
The honest catch✕ Vendor roadmap dependence: their release cycle becomes your release cycle✕ Migration is a real project when triggered - priced only when real, but it is not free✕ Schedule risk before first trade; engine SRE is a permanent cost line
✓ favourable◑ moderate / conditional✕ unfavourable

Delivery narrative

The commercial read on each path — distinct from the matrix above.

Path 1 · White-label + India layer
★ Path 2 · Progressive
Path 3 · Fully custom
Commercial read
Cheapest way to a live venue. You accept a vendor in your critical path and a ceiling on control; the India layer we build on top is yours regardless.
Pays the same as Path 1 at launch and removes its ceiling: every engine touchpoint goes through an adapter designed for replacement, with the migration playbook in the architecture from day one. You pay for engine ownership only when volumes prove you need it.
The end-state of Path 2 taken as the starting point. The engine premium buys real advantage only when latency guarantees or exotic flow are near-term certainties.
When to pick it
The venture is a market test; capital is tight; a vendor dependency is acceptable for 2-3 years.
You want the skeleton fast AND the ownership end-state - the contradiction in the brief, resolved structurally. Our recommendation.
Derivatives at scale, market-maker latency SLAs or exotic order flow are committed - not aspirational - and capital is secured.
Exit story
Engine swap is an unplanned rewrite project - budget it mentally from day one.
Shadow books → parallel run → per-pair cutover; the playbook ships with Phase 1 documentation.
Nothing to exit from - you own the whole stack, and the whole ops burden.
Approach · license the core, rent nothing else

Path 1 · White-label core + custom India layer

License a proven matching engine and order-management core; everything that touches India and your users is custom and yours.

The fastest route to a live venue. The licensed core carries the trading machine; we build the branded UX, the 4-tier Aadhaar KYC, the TDS/GST engine, FIU reporting, INR rails, custody integration and admin - all owned by you.

What you get
  • Fastest time-to-market - the engine already exists
  • Own order books and own pairs (unlike CaaS)
  • The entire India layer is your IP from day one
Trade-offs
  • Engine license fee and real lock-in
  • Throughput and roadmap bound by the vendor
  • Deep trading customization limited
A branded Indian exchange on a rented engine - the lowest-risk path to being live before the regulatory window closes.
Budget · mid$305K
Range$227K–$383K
Effort4,540–7,660 h
Delivery4–5 mo
Team8–10
Approach · launch licensed, engineered to migrate

Path 2 · Progressive / composable  ★ recommended

Identical launch mechanics to Path 1 - but every engine touchpoint goes through an adapter contract designed for replacement.

The migration playbook (shadow books, parallel run, per-pair cutover) is part of the Phase-1 architecture, not a future promise. Contracts never degrade - implementations upgrade. You pay for engine ownership only when volumes prove you need it.

What you get
  • Launch speed of Path 1, ownership end-state of Path 3
  • Lock-in engineered away: adapter + documented migration
  • IP requirement satisfied structurally, not by promise
Trade-offs
  • Adapter discipline costs ~140-240 h up front
  • Migration, when triggered, is a real funded project
  • Two engines to understand during cutover
The correct engineering answer to the brief: skeleton fast AND own everything. Also the honest one - Path 1 pays us the same and locks you in; Path 3 pays us more and delays your launch.
Budget · mid$314K
Range$234K–$395K
Effort4,680–7,900 h
Delivery4–6 mo
Team8–10
Approach · own the machine from the first commit

Path 3 · Fully custom

Own matching engine (Go/Rust), own OMS, everything in-house - the end-state of Path 2 taken as the starting point.

Right when market-maker latency guarantees, exotic order flow or derivatives at extreme scale are committed certainties with secured capital. The engine premium then buys real advantage rather than deferred optionality.

What you get
  • Total control: latency, order types, roadmap
  • No license fees, no vendor in the critical path
  • Native derivatives architecture from day one
Trade-offs
  • Longest time to first trade (engine precedes launch)
  • Engine build premium: +2,300-3,900 h
  • Permanent engine-SRE ops burden is yours
Maximum sovereignty at maximum cost - defensible only when the trading edge is the business model itself.
Budget · mid$460K
Range$342K–$578K
Effort6,840–11,560 h
Delivery7–10 mo
Team10–14

Corridors are pre-discovery, spot skeleton only (Phases 2-3 priced in section 08); mid = corridor midpoint @ $50/h blended. Vendor fees (engine license, custody, KYC) are third-party costs - section 08, TCO tab.

Evaluated

Exchange-as-a-Service (Binance CaaS class)

Fastest possible skin - but you trade on the provider's books: no own pairs, no own products, constrained INR flows, and the platform is rented. Directly conflicts with your IP requirement. Ruled out.

Evaluated

SaaS subscription platforms

Subscription engines at hundreds of thousands per year for spot, more for perpetuals - a pricing pattern we have audited on a comparable exchange deal. Three-year TCO exceeds building the same surface on T&M, with no IP at the end. Ruled out.

Evaluated

Open-source fork, unsupported

Free until the first security patch you must write yourself. Viable only with a dedicated in-house engine team from day one - effectively Path 3 with weaker provenance. Parked.

08 · Delivery & pricing

Delivery & pricing

Pick a scenario, then toggle modules — hours and budget recompute live at a blended $50/h (T&M). Corridors are calibrated on our 103-module exchange estimation base and harden into the hour-level WBS after Phase 0. Third-party vendor costs are separate and transparent (last tab).

Scope configurator
Phases & gates
3rd-party costs & TCO
Option A · Spot skeletonFoundation + spot core + India layer + custody + mobile + QA/PM. The legally-clean day-one exchange.$227K–$383K
Option B · + DerivativesOption A + perpetual futures, margin and the risk stack. The Delta-shaped competitor.$339K–$575K
Option C · Full RFP surfaceA + B + options, earn suite, OTC, institutional, card, FIX.$467K–$795K

What MUST means: load-bearing — components without which later phases cannot be built. Options are cumulative; any option upgrades to the full system without schema or API changes: implementations degrade, contracts never do.

0modules
0hours (range)
0cost (range)
0mid @ $50/h
Pre-discovery corridor, not a quote — the WBS after Phase 0 fixes hours per module. Vendor costs separate (TCO tab).
3–4 weeks

Phase 0 · Discovery

Architecture spec, vendor quotes, regulatory mapping, WBS to the hour. The only commitment you make today.

~4–6 months

Phase 1 · Spot skeleton

Trading core per chosen path, India layer, custody, mobile, admin. Gate: internal launch readiness.

+3–4 months

Phase 2 · Derivatives

Futures, margin, risk stack, insurance funds. Regulatory assumption reviewed at the gate.

+2–3 months

Phase 3 · Earn & institutional

Earn suite, OTC, sub-accounts, broker program, card partner.

You do not pay your way past a gate

Each phase ends at a readiness gate with defined deliverables and a go/no-go that belongs to you. T&M with itemized weekly reporting. Client-side prerequisites (FIU registration, bank agreements, liquidity capital) run in parallel and are tracked in the same plan — the real launch date is the max of the two tracks.

Timeline bands calibrated on comparable exchange-stream deliveries in our estimation base; hardened per path in the WBS.

Paid by you directly to vendors — we integrate. Transparent because surprises here poison deals later. Ranges are public/list prices, July 2026; final quotes in Phase 0.

ItemTypeRangeNote
White-label engine license (Path 1/2)annualfree tier to $200K+varies wildly by vendor tier and rev-share model
MPC custody platformannual + setup$50–250K + $10–50KAUC-dependent; quotes are NDA-gated
KYC / IDV (India-native)per verificationwell under $1 per check at volumelocal vendors bill in INR; global vendors from ~$1.35
KYT transaction monitoringannual$30–120Ktier/volume dependent
Travel Rule providerannual$15–60Kvolume dependent
Sanctions / PEP feedannual$10–40K
Market making retainermonthlyquote-basedindustry is NDA-priced; structure options in Phase 0
Blockchain nodes / RPCmonthly$2–10Kown nodes for BTC/ETH/TRON on top
Cloud infrastructuremonthly$2–15Kscales with volume; India region if residency required
TradingView Advanced Chartslicensefree on approvaldata feed is our build
Security audit + pen-testone-off per phase$45–120Kengine + wallet paths audited before mainnet money
Card issuing partner (P3)setup + monthly$10K + $1–3K + interchangeissuing-partner class pricing

Pattern from our audited exchange deals: competitors hide these numbers; the hidden ones historically caused the friction. None of it is our revenue.

09 · Open decisions

Open decisions

Eight decisions determine the final configuration. Each is stated with why it matters and the default we assume until answered — we are prepared for either branch of every fork.

Build path - 1, 2 or 3?Business

The single biggest cost and timeline driver. Path 1 rents the engine, Path 2 rents it with an engineered exit, Path 3 builds it.

Default: Path 2 (progressive). Launch mechanics of Path 1, ownership end-state of Path 3.
Derivatives - scope and legal posture for Phase 2?Business

INR-settled F&O is the market's growth segment, but tax treatment is unsettled and the parliamentary report may move the ground.

Default: architecture and schemas derivatives-ready from day one; launch decision at the Phase-1 gate with counsel's opinion.
Banking partner and INR rails - who, and when?Business

Direct bank rails need commercial agreements that take months; aggregators launch in weeks but cost basis points.

Default: aggregator-first for launch, direct bank + UPI partner track running in parallel.
FIU-IND registration - existing entity or new filing?Business

Registration is the legal precondition for operating; timing gates the launch date more than engineering does.

Default: assume new FINgate filing; we prepare the technical dossier (systems, AML tooling, audit readiness) as a Phase-1 deliverable.
Custody vendor - which MPC platform, and what cold setup?Architecture

AUC-based pricing varies 5x between vendors; cold-storage geography affects both security posture and data-residency answers.

Default: two-vendor shortlist quoted in Phase 0; policy engine and allowlisting are ours either way.
KYC stack - which India-native vendor?Architecture

Aadhaar eKYC, CKYC fetch, V-CIP and penny-drop are local-vendor territory; global vendors cover Travel Rule and sanctions.

Default: dual-vendor pattern (local rails + global compliance), shortlist quoted in Phase 0.
Data residency - India-region infrastructure only?Architecture

CERT-In expectations and the pending regulatory report may harden residency requirements; going India-only later is a migration.

Default: India-region primary from day one; multi-region DR as a cost option.
IP transfer cadence - per phase or per milestone?Business

Your requirement is code open to your developers. The question is the legal cadence of ownership transfer and escrow for licensed components.

Default: staged ownership matrix per phase gate (the model we used for a European government bid), repos under your org from day one.

Answer any of these in a call or in writing — the configurator and WBS inherit the answers.

10 · Support & operations

SLA-backed support and a clean transition to Run

An exchange is money in flight — support is designed severity-first, with a compliance-operations track the RFP explicitly asks for. Tier sizing lands with the WBS.

Transition & knowledge transfer
SLA & severity
Warranty & scope
Packages & cost

Smooth transition to support — three phases, no cliff

Phase 1 · Preparation
pre go-live
  • Access setup: monitoring, ticketing, comms
  • Shadowing workshops with the dev team
  • Handover of docs, architecture, runbooks
  • Support team trained on systems & processes
→ Ready to handle live incidents
Phase 2 · Go-live & trial
first 2 months
  • 1–2 core developers embedded in support
  • All KPIs tracked, deviations documented
  • Processes refined and stabilised
  • Formal service review at end of trial
→ Service model validated & approved
Phase 3 · Stabilised ops
ongoing
  • Agreed KPIs enforced with SLA governance
  • Monthly reporting activated
  • Support coverage operational to the agreed tier
  • Continuous-improvement cycle established
→ Industrial-grade support live
Knowledge transfer — your team able to operate the platform
  • Training materials & hands-on sessions per role.
  • Operational runbooks and support procedures.
  • Shadowing → reverse-shadowing to full autonomy.
  • Technical knowledge-transfer documentation.
  • Project closure report & lessons learned.
  • Formal sign-off and transition to operations.
The allocated support team
  • 1 Front-End · 1 Back-End · 1 QA Engineer.
  • 1 SRE Engineer — on-call to the chosen tier (24/7 on Premium).
  • From 20 to 80 hrs/month, expandable; SRE scales with the chosen coverage tier.
  • Service tooling: Atlassian Service Management (ITSM standard).
How ownership moves to your team over time: see Build→Operate→Transfer in Team & compliance.

SLA — incident management

SeverityDefinitionResponseResolutionSL
P1 · Very HighComplete outage / critical function down30 min4 hours95%
P2 · HighMajor feature degraded, workaround may exist1 hour8 hours95%
P3 · MediumMinor issue, workaround available4 hours24 hours90%
P4 · LowCosmetic / enhancement / inquiry4 hours48 hours90%
Dev hours 08:00–20:00 CET business days; working-hours coverage by default, SRE 24/7 on-call for P1/P2 on the Premium option; tickets in English. Aligns with the Very-High availability target (≤8 working-hours restoration, DICP) in the Delivery plan.
Support levels — who handles what
  • L1 · Basic — ticket reception & classification, basic troubleshooting, escalation to L2. client-side
  • L2 · Technical — bug investigation & diagnosis, configuration, monitoring, patches. Innowise
  • L3 · Expert — code-level fixes, infrastructure, backup & DR, security / SRE. Innowise
KPIs tracked from day one
  • Availability against the agreed Very-High target.
  • MTTR — mean time to restore, per severity.
  • SLA adherence — response & resolution within target.
  • Defect-escape rate — bugs reaching production.
  • Migration reconciliation % during the parallel-run window.

Warranty, hypercare & what maintenance covers

Warranty & hypercare — what you get
  • 3-month warranty — all bug fixes from the development phase free of charge; covers errors against agreed requirements.
  • Hypercare after go-live — critical / high bugs fixed within agreed windows; support onboarded for knowledge transfer.
  • L2 & L3 support with SLA-backed response times; dedicated SRE for P1/P2 (24/7 on the Premium option).
Included in maintenance
  • Monitoring · issue resolution · patch management.
  • Cloud backup · infrastructure maintenance.
  • SRE on-call (24/7 on the Premium option).
Out of maintenance scope — separate agreement
  • Evolutive maintenance / new features.
  • End-user training.
  • Infrastructure costs (compute, storage) — client-owned.
  • Change requests beyond agreed scope — estimated per request.
Clear boundaries keep the SLA enforceable and the budget predictable; evolutions are scoped as increments (see Beyond v1).

Coverage packages — pick what fits, tailored on request

 EssentialEnhancedAdvancedPremium 24/7 ★
Hours / month20406080
Coverage window8×5priority 8×5extended hours24/7 continuous
Support levelsL2L2 + limited L3full L2+L3full L2+L3 + SRE
First response (P1)4h2–3h1–2h≤30 min
SRE 24/7——partial✓
Best fitpilot / low-riskgrowing usagebusiness-criticalnational register
Recommended — Premium 24/7 ★ for a national register: an outage in BDNI’s successor blocks movements, slaughter and certification nationwide, so round-the-clock SRE is the proportionate cover.
Illustrative dedicated-team model
Dedicated team (FE+BE+QA, ~80 h/mo)$39.8K/yr
SRE (24/7 on-call)$30.0K/yr
Warranty (3 months)included
Indicative total$69.8K/yr
Illustrates the package mechanics — not the the platform figure.
the platform managed-service Run
~$193K/yr
Range $150K–235K at national scale & 24/7 SLA. Full breakdown in Pricing & cost → 3rd-party & TCO. Change-requests beyond scope estimated per request; infrastructure client-owned; expandable by mutual agreement.
Compliance operations (separate package): STR filing support, TDS/GST filing cycles, monthly PoR attestation runs, CERT-In audit support and regulator-request handling with your compliance officers. Anchor from current engagements: retainers from ~$1.8K/month for a 30-hour L2/L3 bucket with rollover; an exchange typically runs a larger bucket — sized in the WBS.
11 · Team, governance & compliance

Team, governance & compliance

A senior exchange team you grow into ownership — delivered under India’s VDA compliance regime, scaled to the work rather than a fixed bench. Your engineers are embedded from Phase 1.

Team & ramp
Governance & transfer
Compliance & sovereignty
12
delivery roles
~14
peak FTE · Phase 2
WBS
person-months fixed after Phase 0
2
client-facing leads · DM & BA
3Phase 011Phase 114Phase 29Phase 34RunFTE PER PHASE (typical)
Delivery Manager Senior
Full ownership: scope, risk, cadence; your single point of accountability
Solution Architect Senior
Cross-stream architecture, engine adapter contracts, vendor selection
Exchange Domain Expert Senior
Market structure, matching mechanics, liquidity and listing economics
Business Analyst (FinTech) Senior
Requirements, user stories, acceptance criteria across streams
Backend Engineers Sr + Mid ×3
Gateway, accounts, India-layer services, vendor integrations
Frontend Engineers Sr + Mid ×2
Advanced Trade + Simple Mode web surfaces
Mobile Engineers Sr + Mid
iOS / Android parity apps
Wallet / Smart-contract Engineer Senior
Custody integration, on-chain services, PoR pipeline
DevOps / SRE Senior
Infra, CI/CD, observability, CERT-In-ready logging
QA Engineers Sr + Mid ×2
Functional, integration and security test coordination
Compliance Analyst Senior
FIU / TDS / GST flows, reporting formats, audit dossiers
Your Engineers embedded
Join from Phase 1 — the IP requirement made real
Anonymised roles; named profiles provided on contract. EU-based blended team (senior + mid), certified Hyperledger Fabric & Node.js chaincode. Ramp ~3 → 9 → 13 (peak) → 8 → ~3–4 FTE; ~110 person-months for the build (Run excluded).

Build → Operate → Transfer — we grow your team to own the platform

Build with you
Mixed teams from Phase 0 — your engineers pair with ours on architecture & chaincode; shared backlog and decision log.
→
Operate together
Your engineers and ours run it side by side — you lead at the pace you choose, our specialists on hand; documentation & runbooks delivered continuously.
→
Transfer to you
At the readiness gate your team owns day-to-day ops; we step back to an agreed tier, on call as L3.

RACI — your role grows toward ownership

Activity · client organisation’s roleP0P1P2P3Run
Architecture & ADRsCCCA/RA
Chaincode / rules devICRRA
BDNI migrationICCCA
Platform operationsICRRA
Security / homologationCCCA/RA
Incident response · L3—ICRR
R responsible · A accountable · C consulted · I informed. Innowise holds R/A early; the client organisation moves to A as capability transfers. Incident L3 remains an Innowise safety-net throughout.
Operate-readiness gate — transfer you can measure
  • Competency milestones per role — each role signed off as ready before the client organisation takes it on.
  • Operate-readiness checklist as a contractual deliverable — not a vibe, a checklist.
  • Formal sign-off at the gate = the moment day-to-day ownership moves to you.
  • Until every box is checked, our L3 net stays underneath.
A
Managed by Innowise

Full managed service (~$193K/yr, indicative) — lowest internal burden for the client organisation.

B
Co-managed → your autonomy ★

You operate; we provide L3 escalation, evolution & re-accreditation. Cost tapers as autonomy grows — the client organisation’s stated preference.

Honest caveat: a national Fabric system isn’t realistically operable solo in the first years — full autonomy is a milestone, with our L3 net underneath throughout.
Communication
  • Cadence — Scrum (your requested method): weekly status + demos, monthly steering committee.
  • Shared — backlog & decision log; FR-speaking PM & BA as your primary contacts.
  • Tooling — your on-prem GitLab + ArgoCD + K8s (via VPN); Jira / Confluence on our side for PM.
  • Transparency — detailed timesheets (Name / Task / Time).
Quality & KPIs
  • Standards — ISO 9001 / 27001-aligned; EBIOS RM; RGS homologation.
  • Testing — functional, integration, performance (Caliper), security; CI/CD quality gates.
  • KPIs — defect-escape rate, migration reconciliation %, availability vs the ≤8-working-hour target, MTTR.

The regulatory posture this platform is engineered for — and what stays on whose side of the table.

FIU-IND / PMLA core
  • VDA service-provider reporting readiness: STR pipeline, records retention, Principal-Officer workflows.
  • Travel Rule with no de-minimis threshold; sanctions/PEP screening at onboarding and transaction level.
  • CERT-In audit readiness: logging, evidence trails, incident playbooks.
Tax machinery
  • 1% TDS (s.194S) computed per qualifying transfer, remitted and filed; certificates and 26AS alignment.
  • 18% GST on platform fees with GSTN filing cycles.
  • Schedule-VDA-aligned, filing-ready user statements.
Split of duties
  • Yours: legal entity, FIU registration, bank/vendor contracts, compliance officers, liquidity capital.
  • Ours: the technical dossier for each of those, the systems behind them, and the audit evidence.
  • Derivatives (Phase 2) ship behind explicit jurisdictional assumptions — see Open decisions.
12 · About Innowise

Your engineering partner since 2007

Innowise is a European, full-cycle software engineering company — end-to-end development, team augmentation, IT audits, support and consulting. For this exchange we mobilise engineers who have already shipped trading venues, wallets and compliance platforms, and scale the team to each phase.

Who we are
Advanced technologies
Talent pool
Track record
Blockchain & fintech practice
Delivery proof
Client voices
0
tech experts in-house
0
delivered projects
0
years in business — since 2007
0
in IAOP Global Outsourcing 100
Who we are

Your software development partner since 2007 — end-to-end development, team augmentation, IT audits, support and consulting. We kick off quickly and deliver complex, large-scale projects.

Global presence: 21 offices worldwide · Europe, Asia, America, MENA, Africa.
Why Innowise for this exchange
  • Exchange estimation base — a 103-module CEX decomposition and pricing calculator from live exchange scoping; Phase 0 starts from a proven map.
  • The India layer is engineering we do — RegTech delivery (DORA / NIS2), KYC-vendor integrations, transaction-monitoring pipelines.
  • Security-first by market lesson — the two famous Indian exchange failures were custody-ops failures; cold custody, PoR and incident playbooks lead our design.
  • Build → Operate → Transfer — your developers end up owning and running the platform; IP transfers by stage.

Fifteen advanced-technology practices — where we go beyond standard engineering. Click any tile.

Sixteen software-engineering disciplines covered in-house. Click any discipline.

ISO certifications and industry awards, joint engineering with cloud and platform vendors, and a portfolio of enterprises we have shipped for.

A dedicated blockchain practice — for this venture the relevant depth is exchange infrastructure, wallets/custody and EVM tooling; the breadth below is why we can weigh build-vs-buy honestly.

Ledgers we run
Hyperledger FabricGoQuorumEthereumPolygonSolanaAvalanchePolkadotHederaCardano
Chaincode & contract languages
GoNode.js / TypeScriptSolidityRustJava
Tooling
Fabric CA / MSPHashiCorp VaultHardhatTruffleWeb3.jsEthers.jsFireblocks
What we ship
  • Permissioned national / consortium registers
  • Smart contracts & chaincode, governance & MSP
  • Off-chain read-models, HSM / PKI, audit & HA/DR
Fintech practice — the other half of an exchange
Domains we ship in
Digital & mobile bankingOpen banking / APIsPayments & e-payment ecosystemsTrading & investment platformsBNPLRegTech (DORA / NIS2)Insurance
Why it matters here
  • An exchange is half trading venue, half regulated fintech back-office — we run both practices in-house.
  • Banking-grade delivery discipline: audit trails, reconciliation, uptime SLAs, regulator-facing reporting.
  • Public banking case studies at innowise.com/cases/banking; core-banking and digital-asset banking scoping under NDA.

Exchanges first: CEX delivery, a live DEX venue, then banking-grade platforms — engagements where Innowise owned architecture and build, the same end-to-end responsibility we propose here. Some client identities are under NDA.

Cryptocurrency exchange system
CEX · trading core · wallets · admin · corporate case portfolio
Relevance to this venture: Direct centralized-exchange delivery - the case our 103-module exchange decomposition and this proposal's estimation base grew out of.
What we delivered
  • Trading platform: order flow, matching integration, market data.
  • Wallet and custody integration; hot/cold segregation controls.
  • Admin and back-office: users, fees, listings, audit trail.
  • Compliance surface: KYC flows and transaction-monitoring hooks.
  • Full case with client identity under NDA - available on a call.
Result: a working CEX stack - trading core, wallets, back-office and compliance surface; client under NDA. Bonus: the 103-module estimation map used in sections 07-08 was distilled from this work
Algorithmic trading & exchange-adjacent engagements
trading bots · arbitrage · trading platforms · fintech practice
Relevance to this venture: The trading-side muscle around a CEX: bots, arbitrage technology, P2P venues and professional trading terminals - the engagements that sit closest to exchange mechanics.
What we delivered
  • Arbitrage-trading technology engagements (discovery + commercial scoping).
  • P2P token exchange platform engineering.
  • Professional trading-terminal technology selection for a market-data-heavy desk.
  • Trading-platform case portfolio inside the fintech practice; public reference: investment data automation at innowise.com.
  • Client identities under NDA - portfolio walkthrough on a call.
Result: four exchange-adjacent engagements taken from discovery to scoped build - arbitrage tech, P2P venue, trading terminal; names under NDA
HAUST Network - L2 with a live DEX, wallet and yield
zk-rollup L2 (Polygon CDK) · DEX · EVM wallet · yield · public case
Relevance to this venture: A live trading venue delivered end-to-end by one team: venue mechanics, wallet custody UX, cross-chain liquidity, yield products - exchange engineering in production.
What we delivered
  • Haust DEX: permissionless trading with AggLayer cross-chain liquidity.
  • Haust wallet: EVM multi-chain, social recovery, keyless, Telegram mini-app.
  • Haustoria yield protocol; native yield mechanism; hTokens (rebase).
  • Layer-2 on ZK rollups (Polygon ZK / EVM / CDK); backend performance rework.
Results: 10.4M+ wallets · +25% trading pairs · +20% liquidity via native yield · +15% lending performance
WeFi - decentralized banking platform
digital banking × digital assets · public case (innowise.com)
Relevance to this venture: Banking-grade product engineering on crypto rails - accounts, cards and on-chain assets in one consumer product; the closest public analog to a bank-channel exchange venture.
What we delivered
  • Decentralized banking platform: accounts, payments and digital-asset operations in one app.
  • Custody and on-chain integration under consumer-banking UX standards.
  • Public case study at innowise.com/cases (blockchain portfolio).
Result: a live consumer banking product on crypto rails - accounts, payments and digital assets in one app (public case, innowise.com)
Digital & open banking portfolio
banking practice · public cases (innowise.com)
Relevance to this venture: The RFP's real benchmark is bank-grade operations. Our banking practice ships exactly that, publicly: e-payment ecosystems, open-banking platforms, mobile banking at ecosystem scale.
What we delivered
  • E-payment ecosystem with mobile banking - end-to-end delivery.
  • Open banking platform and API aggregation.
  • Mobile banking ecosystem; banking data-lake implementation; ACH payment platform.
  • Plus core-banking and digital-asset banking scoping inside the fintech practice (NDA).
Result: e-payment ecosystem, open-banking platform and mobile-banking ecosystem shipped for banks (public case studies, innowise.com)
HAIA - AI finance operating system
AI agents · one-KYC onboarding · self-custody · public case
Relevance to this venture: Onboarding is where Indian exchanges win or lose bank-channel users. HAIA collapses dozens of flows into one interface with a single KYC pass - without giving up self-custody.
What we delivered
  • Seventy crypto app interfaces replaced with one agentic interface.
  • Single KYC pass with full self-custody preserved.
  • LangChain/LangGraph agent architecture, MCP integrations.
  • +25% LP efficiency on integrated protocols.
Results: one KYC + self-custody · +25% LP efficiency
Vitreus - financial-grade chain and staking module
Substrate · EVM parachain · staking / validators · public case
Relevance to this venture: The Earn phase of this exchange (staking, yield) is production territory: live staking, validator-node management and reward flows on a financial-sector platform.
What we delivered
  • Vitreus Smartchain: data-management platform for financial-sector privacy (Substrate + custom AI).
  • Power Plant EVM parachain: bridges, market, USDC integration.
  • Mobile wallet as staking and hardware manager: stake, manage vNodes, track revenue.
Production platform + live staking module

A few words from teams we have built with.

“Initially, we asked Innowise to develop only the lending protocol on top of our TestNet… That’s when we decided to fully trust Innowise with building the decentralized exchange, our version of abstract accounts, the mobile app, the MultiSig wallet, and everything else required for launching our blockchain.”

Anton Patrynika
Co-Founder & CEO · Haust Labs

“They combined strong blockchain and AI expertise with excellent integration capabilities, stayed flexible as the product evolved… Innowise also contributed real product thinking, industry insight, and valuable connections, making them a reliable long-term partner.”

Sergei Gorovenko
Founder · Haia

“They provided additional developers and supported us with high-level consulting on how to architect our blockchain system, particularly around integration and smart-contract security.”

Ran Dong
Founder · Art Management System

Work Breakdown Structure

Available on request

The detailed WBS — effort and cost by module — is shared on request. Please contact your Innowise manager.