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Western Union WUCoin

  • Category Development
  • Client WesternUnion
  • Start Date 23 January 2021
  • Handover 05 March 2021
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Case Study: Web3 currency escrow platform for WU was approached by WesternUnion to build a Web3 currency escrow platform using the 0x protocol, Ethereum, and JavaScript. The platform needed to meet all SEC and OFAC guidelines and regulations and support 256 transactions per second with a 0% error rate. The goal was to deploy the platform in Venezuela and Colombia as test markets for WUCoin, a new cryptocurrency developed by WesternUnion. assembled a team of experienced developers with expertise in Web3 technologies, including the 0x protocol and Ethereum. The team worked closely with WesternUnion to understand their requirements and developed a comprehensive project plan to ensure the platform was delivered on time and within budget.

The platform was built using a combination of smart contracts and decentralized applications (dApps) to ensure secure and transparent transactions. The escrow functionality was implemented using smart contracts, which automatically released funds to the buyer once the seller had fulfilled their obligations.

To ensure compliance with SEC and OFAC regulations, the platform implemented a robust Know Your Customer (KYC) process, which verified the identity of all users before allowing them to use the platform. In addition, the platform integrated with existing compliance systems used by WesternUnion to ensure that all transactions were fully compliant.

To support the required transaction volume, the platform was built with scalability in mind. leveraged the latest Web3 technologies to optimize transaction speed and reduce gas costs, which allowed the platform to support up to 256 transactions per second with a 0% error rate.

After extensive testing, the platform was successfully deployed in Venezuela and Colombia as test markets for WUCoin. WesternUnion was pleased with the results and decided to move forward with a full launch of WUCoin in additional markets.

  • + 0X protocol
  • + Ethereum
  • + AWS
  • + Vue.js
  • + Node/TypeScript
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The success of this project demonstrated's expertise in Web3 technologies and their ability to deliver complex projects on time and within budget. WesternUnion was impressed with the quality of the platform and the level of support provided by the team throughout the project. As a result, WesternUnion has continued to work with on additional Web3 projects.

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