Bitcoin Suisse: Groundbreaking Crypto Asset Scoring
Transforming Crypto Asset Scoring for Bitcoin Suisse with GCP Integration.
Groundbreaking Crypto Asset Scoring
Project Location:
Zug, Switzerland
Industry:
Crypto-finance and tech
Use Case:
Crypto Asset Transformation
Website:
BitcoinSuisse.com
Discover how Bitcoin Suisse and Zencore revolutionized crypto asset scoring through seamless integration with Google Cloud Platform, replacing manual Excel methods with a sophisticated data infrastructure for enhanced analytics and smarter portfolio choices.
About Bitcoin Suisse
Founded in 2013, Bitcoin Suisse is a large Swiss crypto broker and gateway to crypto asset investing, offering institutional-grade prime brokerage, trading, custody, lending, staking, and other crypto-financial services for private and institutional clients. In April 2023, the company had over 200 employees, more than 100 million CHF in equity, and over 3 billion CHF worth of assets in custody1.
Project Challenges
Bitcoin Suisse aimed to leverage and harness existing public datasets for cryptocurrencies in BigQuery blending them with the data from third-party APIs and internal data to perform advanced analytics, scoring the highest-quality crypto assets; and use the results for a new crypto index and a new investment product built on that index.
“With Zencore, we found a business partner who not only builds outstanding solutions but also puts a high emphasis on smooth collaboration. This led to our project being a great success - not only in terms of quality but also in terms of transparent communication and project management. The expertise in Google Cloud is remarkable and the Engineers made sure that we also learn along the journey. Working together was a pleasure and it would be great to join forces again in the future!”
Scope of Work
- Building the Infrastructure
- Resource Management
- Integrations with Azure
- Proof of Concept data product that scores crypto assets and recommends portfolios of highest quality assets using third-party (paid/free REST APIs) and internal data sources
- Business Intelligence dashboards
- API and Dashboard for internal stakeholders to access crypto scoring and indexing data
Key Achievements
- Streamlined Data Processing
- Customized Scoring Algorithms
- Automated Portfolio Recommendations
- Seamless Data Accessibility
- Scalable Infrastructure
Solution
Zencore team has led a series of workshops and built a pilot project for a modern, ELT-based, batch data ingestion and transformation pipeline to Bitcoin Suisse’s unique requirements of crypto asset scoring to select a portfolio of high-quality crypto assets. The data calculated by the pipeline has been made available to downstream consumers via an API endpoint and a Looker Studio dashboard as well.
The solution, implemented by the Zencore team, has collected data from third-party sources and modeled it to conform to a unified structure and enable a simple, repeatable analysis of crypto assets. The Google Cloud Platform resource hierarchy was set up due to Bitcoin Suisse’s requirements and the complete infrastructure was automated using Terraform. Microsoft Azure-managed identities were successfully synced to Google Cloud Platform.
The developed data pipeline follows an extract-load-transform (ELT) approach. The extraction and loading (EL) of data from third-party APIs was achieved using Cloud Run services. Bitcoin Suisse’s internal data was automatically collected from Microsoft Azure using Cloud Storage Data Transfer Service at regular intervals. The raw data was stored in Cloud Storage and Google BigQuery. The data transformation (T) happened with dbt on Google BigQuery. The Bitcoin Suisse internal API serving crypto asset scoring and portfolio selection information was hosted on Cloud Run as well. Cloud Composer (managed Apache Airflow) orchestrated the whole process.
The pilot project has produced clear business value. It has lowered the time required to integrate data from external data sources (APIs) to several hours instead of weeks (Bitcoin Suisse’s earlier required effort). The process of scoring crypto assets, which was previously conducted manually in Excel spreadsheets, was successfully automated. The crypto asset scoring and the identified portfolios are easily shared inside the organization through a REST API and Business Intelligence dashboards.
The pilot solution was delivered on time with deep involvement and to the satisfaction of Bitcoin Suisse. Zencore was even able to deliver additional items besides the ones in the original scope: automated integration of a second, third-party, API’s data - and a Looker Studio dashboard.
A high number of workshops ensured successful knowledge transfer and customers acquiring hands-on practical skills, enabling their future usage of Google Cloud Platform.
Business Goal
Calculate crypto specific metrics to score and categorize crypto assets as high-quality investable or non-investable. Migrate from Excel sheets to modern Google Cloud tooling.