N2 Wallet: a digital crypto wallet

A simple, user-friendly crypto wallet like the best banking app

The only wallet you need on your journey. You can make transfers in a realtime or pay with a card anywhere in the world with any currency, token or stablecoin. Pay with the cryptocurrencies as easily as with your usual banking app. Store and multiply your money, send global payment requests from your friends like in a regular banking app but with no barriers.

The main goal of the project was to provide the current audience of the client`s DeFi service with a cryptocurrency wallet with daily banking functions. It was also important for the client to attract a new audience of travelers and crypto-enthusiasts.

Safety and stability you can trust. N2 Wallet is the ultimate travel companion and your passport to the new financial system. Our team has created a user-friendly design that makes the crypto wallet native and convenient like any banking application.

Embedded finance in a multi-currency wallet:

  • Card issuing
  • Contactless payment
  • Stable coins and native tokens
  • Fast, free and secure cross-border transfers 
to a phone number or direct address
  • Payments with cryptocurrencies
  • Gamification
  • Tools for converting tokens among themselves 
and withdrawing to fiat currencies
  • Ability to use DeFi deposits
  • Working with the NFT
  • Loyalty

There are several wallets in the system

In the entire system, there are multiple wallets. When a user registers, the following are created for them:

  • Card System – a third-party vendor's DBO (Digital Banking Operations) system
  • Cryptocurrency Wallet

From the system's perspective, there are significant wallets containing:

  • A large wallet with USDC
  • Cash on the Mastercard

Deposit process

The user has two addresses: a cryptocurrency address (Solana blockchain) and a card number.
All deposits are made in cryptocurrency (the user can deposit USDC on the Solana blockchain or Solana itself).
The user sends cryptocurrency (USDC) to the Solana address. As soon as the wallet receives the deposit, the mobile app displays the wallet's current balance.
The backend keeps USDС in its possession.
The user's balance is displayed in USDС.

Payments

The process involves multiple steps and validations to ensure the accuracy and security of fund transactions within the system.

A request comes from the acquiring bank indicating that a certain payment has been received by the backend.

The backend performs the following checks:

  • It verifies if the person has sufficient funds available on their balance that are not frozen or blocked
  • Transfers USDC to their own account for holding and sends an "OK" response to the acquiring bank if the checks are successful

Subsequently, a request arrives from the acquiring bank for the deduction of funds. There are several options for deduction:

  • Deduction without confirmation (non-acceptance)
  • Deduction with preliminary reservation or freezing of funds

All transaction histories are processed on the backend.

Funds of users are validated and held in an intermediate wallet.

The actual transfer of funds is carried out from the third-party organization's account where real dollars are held.

A bit later through a third-party mechanism, USDС (which was deducted) is converted with a certain percentage into cash and replenishes the large wallet (which holds dollars).

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