As well as building an exchange, it’s also possible to establish a broker layer, and according to Scalable Solutions, setting up a broker can be a lot less time-consuming. They facilitate the buying and selling of cryptocurrencies and often set prices.
To achieve excellence, the company says the first step is to identify a target market for the brokerage layer and clearly define the countries and the type of customers this layer will reach.
As we learned from Jakovlev, developing a marketing strategy is crucial, so entrepreneurs need to set out their unique selling points and develop a clear message that champions them.
Brokers generally require fewer departments than an exchange does, but support and compliance continue to play a starring role. Legal obstacles may also rear their ugly head from time to time, but it is often possible to anticipate these hurdles in advance.
Of course, the exact requirements for this layer can vary depending on the jurisdiction and legal structures that need to be followed. If infrastructure is being built from scratch or customized, enlisting experienced, specialized professionals can immeasurably boost the chances of a broker layer being constructed and installed without a hitch.