Credits wallet update

Dear Credits Community, in this publication, we are providing the latest update on Credits wallet development. 

Credits wallet is our fintech product, which will allow you to work with crypto assets within one application, allowing you to buy, sell and store the most popular crypto tokens and coins using this wallet. 

As of now, the following coins and tokens are supported by the wallet:

CS, BTC, ETH, LTC, BCH, USDT, USDC, DAI.

Screen 1 below demonstrates the page with fiat balances, and screen 2 is a screen of the crypto assets available. 

Please note that the interface will continue being edited, and the visual and text sizes might change slightly in the public version.

In April 2021 Credits team was joined by Andrey Ravinskiy, who has got essential experience in building complex banking and fintech products, and the wallet work was tested again and reconsidered in some parts. Based on the analysis, we have added a few critical steps to the roadmap, which prolonged the development process but allowed us to improve backend architecture. 

During the last four months, the wallet was under reconstruction, precisely the changes we implemented include:

• rebuilding core architecture which now allows us to add a new financial service to the app in a faster and more efficient manner; this means that in the future, we continue to add new functionalities to the wallet, increasing options of financial management with your assets;

• we have improved the interface, which includes new animation of central elements, updated design for transaction history, new pop-ups; we have amended the process of screen preloading and many smaller visual parts of screen work;

• back-office reporting, balance reports were revisioned; 

• the new accounting system was designed with the ability to support any new financial services we would want to integrate in the future,

• KYC procedure for the users was reviewed and improved, as well as procedure of compliance, AML, anti-fraud monitoring; 

• we have added fiat accounts to the wallet; the user can deposit any amount of fiat to such an account from his card or via bank transfer and use this amount for operations with crypto.

Please note that the license required for crypto operations of Credits wallet has already been obtained. We have an Estonian license to provide a virtual currency service, which allows us to deliver wallet products for storing crypto assets, exchanging crypto to fiat, and exchanging crypto to crypto. It covers our operations in Europe and globally, with only differences for global and EU users in a verification process. 

The latest beta version of the wallet was released on October 15th and is now getting tested by the team. We expect that internal testing of the wallet will take a few weeks, and already in December, we plan to start external beta version tests with a group of loyal users. If you are interested in becoming part of this group, please let us know.