English
JapaneseImpact Stories
Transforming Digital Asset
Financing for Institutions
Legacy constraints, innovative solutions
Company Name
Switzerland
Industry
Crypto
Location
Switzerland
Application
CLST 2.0
Background
Early digital asset lender CLST faced limitations in its aging platform (CLST 1.0) as the crypto landscape boomed. Partnering with Cubastion, CLST embarked on a complete overhaul to become a leader in the new era of digital asset lending.
Our Approach
Holistic Transformation
Cubastion's strategic approach to revitalizing CLST encompassed a multifaceted array of innovative solutions, each tailored to address specific challenges and elevate the platform's performance. From overhauling the technology infrastructure to enhancing risk management, integrating seamless features, and fortifying security measures, every aspect of CLST underwent meticulous refinement.
Challenges Faced
Outdated Technology
CLST 1.0's outdated technology hindered flexibility, innovation, and integration, limiting user satisfaction and competitiveness.
Inaccurate Metrics
Challenges with inaccurate metrics (LTV, Maintenance LTV) lead to unreliable data, undermining trust and decision-making.
Complex Onboarding Process
The complex onboarding process (unclear procedures, communication issues) frustrated users and hindered adoption
Inefficient Risk and Compliance Management
Manual risk and compliance processes caused delays and errors and hindered adaptation to changing regulations, raising operational risks.
The Solution
Unified Portal Development
Cubastion built a unified portal with RBAC (role-based access control) to streamline user experience, limit access to relevant areas, improve operational efficiency, and enhance security.
Wallet Integration and Payment Options
Introduced integrated wallet functionality for bank accounts and digital currencies, enabling direct payments and flexible management for different transactions and currencies.
RFQ Negotiation Options
RFQ system lets you send inquiries to multiple lenders, compare offers within each RFQ, and seamlessly transition to loan processing upon acceptance
Implemented two RFQ negotiation methods
Grid for structured numerical offers Chat for direct communication, improving loan term negotiation efficiency
LTV Calculator
Empowering users with LTV calculator for informed borrowing decisions and Integrated loan pricing calculators within RFQ for accurate negotiation.
Collateral Management and Rebalancing
Launched collateral management feature that tracks asset values, automates rebalancing, and offers visibility into holdings, balances, payments, and loan statuses.
Technological Overhaul
Deployed to AWS cloud for scalability, flexibility, and better platform performance, leveraging microservice architecture for modularity, independent deployments, and improved maintainability. Additionally, implemented React framework for a dynamic, responsive, and user-friendly interface.
Counterparty Management
Incorporation of features to promote trust and collaboration in trading through "Good to Trade" friend requests for forming partnerships and a robust counterparty management system for adding trading partners.
Enhancements to compliance and risk assessment
Addition of TRM lab IDs to their platform for improved financial details retrieval for accurate risk assessment, streamlined input system for efficient review by compliance and risk teams, and enhanced dispute resolution and regulatory compliance.
Business Outcome
Streamlined Onboarding Process
CLST 2.0 streamlines onboarding with features like Onboarding Forms and Document Sections. This feature reduces paperwork, saves time, and gets clients to liquidity faster.
Compliance Management
CLST ensures regulatory compliance through its Compliance Team. They monitor alerts, manage search IDs, and leverage TRM Labs & Comply Advantage to mitigate risks and safeguard client & stakeholder interests.
Effective Communication
Built-in chat facilitates real-time collaboration among teams and clients, boosting productivity and client satisfaction (onboarding, RFQs, compliance).
