Case Study

Ripple

Supercharging In-House Software Development Capacity
10 Billion Valuation
Cryptocurrency Exchange Integration
Consulting Services
ripple mockup
A Wise Decision to Meet Peak Demands
In its eight years since launch, Ripple has grown from a little known cryptocurrency-based money-transfer platform into a service utilized by more than one thousand banks and financial institutions all over the world, including American Express, MoneyGram, PNC and Santander.
Such explosive growth pushed the capacity of Ripple’s software development team to its limits. In order to meet this challenge, Ripple partnered with Moove It for a one year project focused on collaborating with its own team to develop integrations for new cryptocurrency exchanges and to help standardize its testing platform.
The Challenge
A Moove It team, comprised of members from our Java organization that specialize in fintech and systems integration, joined the Ripple software development team with the goal of addressing an urgent market demand to add Brazil as a money transfer destination.
Integrating a new destination into the Ripple network entails solving complex business and technology challenges. It includes searching for a good crypto exchange fit, performing a feasibility study to assess the gap between the exchange’s API and Ripple’s requirements, analyzing risks, going through a negotiation process with the crypto exchange, developing a systems integration plan and, if everything works out and lines up, developing the project.
wires connected
wires connected
Background
Ripple is a fintech company whose technology allows banks and financial institutions to make cross-border payments, source liquidity on-demand and avoid pre-funding through XRP, a cryptocurrency created and utilized by the Ripple payment network.
In a nutshell, Ripple’s end to end process of transferring money to and from any part of the world involves buying XRP in exchange for source currencies (e.g. US dollars) and then converting XRP into destination currencies (e.g. Mexican pesos) through local crypto exchanges. In order to expand to new markets, it is necessary to integrate the Ripple network into crypto exchanges in the destination country.
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Testing Platform
After our initial six-month engagement, the client decided to extend the terms for another six months in order for us to build a testing platform in Java designed to standardize automated testing across the Ripple network.
he testing platform loads a Ripple network instance in a testing environment that is utilized by the different services in order to test transactions and to verify that they process as expected.
Fast Integration
In six months, Moove It helped integrate three crypto exchanges into the Ripple network, covering Brazil (Modiax), the Philippines (coins.ph) and Australia (BTC Markets). Our work involved working with the client and its potential providers to:
  • Identify and document disparities between prospective APIs and the client’s needs
  • Gather and document system integration requirements
  • Develop the software components in order to fulfill the requirements
  • Create automated tests to verify that the new integration worked as expected
Technology Stack
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Why Moove It?
These are just a few examples of the benefits that we provide day in and day out to our customers.
Clients like Hulu, Disney Streaming Services, and OneSignal praise us for our:
  • Consultative approach
  • Seamless integration into their internal teams and processes
  • Ability to understand and relate to their problems
  • Diverse talent pool and specialized teams
  • Capacity to reconcile existing systems with current industry technology standards
  • Strong and consistent commitment to quality

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