“We need to be able to roll-out new exchanges within 1-2 weeks, not months. We need to move quickly, but still make sure we are secure”
NCX is a global trading platform built to be robust, secure, scalable and deployed in any jurisdiction at a rapid pace. The NCX platform has to be a marketplace where investors, traders and everyday people can buy and sell with peace of mind.
NCX promotes a trusted, secure and robust digital asset exchange solution following “bank-like” checks and processes whilst also providing exceptional customer service and user experience. The unique corporate structure is to setup locally registered exchanges adhering to local regulations and local laws. This in turn allows NCX to operate an individual exchange platform in each country. The current exchanges are located in Australia and Singapore, with plans to launch others in Europe, Thailand and South Korea. The geographical nature of the exchanges is strategic to the vision and direction of the group.02
The digital asset financial market is highly competitive, so exchanges aim to offer the most accessible and secure platform to their users. Every day, The NCX platforms process transactions from different Fiat currency options to a multitude of different currencies.
The system handles the complex KYC (know your customer) and compliance steps as well as providing real-time market pricing.
To achieve and maintain market position, NCX chose Lateral to build a state of the art, industrial strength trading platform. It utilises the latest advancements in Cloud technology and is deployed on Alibaba Cloud’s platform in Australia.
- “We use the latest Infrastructure as Code (IaC) processes to manage and provision the entire platform. This greatly improves resilience. We can move from one availability zone to another in minutes. We can also deploy the entire platform to a new country in days.” - Thushara Weerakody, CTO NCX
Each trade platform is built to scale automatically in response to user load to maintain performance.
All critical servers holding application services, user wallets and coin nodes are securely protected behind Bastion hosts, specifically designed and configured to withstand attacks.03
By using Alibaba Cloud, NCX has sharply reduced its operational load, freeing resources to spend more time adding value to the business. Crucially, the faster, more efficient infrastructure cuts costs without the need for long-term commitments, thanks to Alibaba Cloud’s innovative pricing and sustained usage discounts.04
Why Alibaba Cloud?
The service and support provided by the Alibaba Cloud team has been exceptional with the added benefit of 30% in cost savings.
“I think they’ve made about 40 tweaks to APIs, terraform, product availability and billing plans in the last 2 weeks so, if we had to review their service, it would probably be the best I’ve ever experienced in my life.” – Dean Bailey, Head of Security Architecture
“The geographical set up and future expansion plans of the Alibaba Cloud infrastructure are aligned to the global growth plans in the operational roll out of our exchanges. Our unique business model also allows us to work closely with Alibaba Cloud’s team as NCX now looks to use additional Alibaba Cloud tools to improve its offering, including Security Services and Machine learning capabilities”