Case study · 2024

A crypto exchange delivered in 6 working days.

Annurax Exchange needed a crypto exchange. The Binance Clone base already carried the mechanics, so the engagement went where their product was actually different. We built the product; they launched the brand.

  • Binance Clone · MXCrypto
  • 6 working days our build time on the base
  • Source code transferred to Annurax Exchange’s own account
AEAnnurax ExchangeBinance Clone · 2024
AEAnnurax Exchange
Solution
Binance Clone
Product
MXCrypto
Delivered
2024
Stack
JS
Build time
6 working days
Blocks reused
20 of 25
Source code
Transferred
4applications shipped
20blocks reused unchanged
5built for this client
9integrations, each isolated
100%source code transferred

What already existed, and what did not.

The distinction that decides a project like this: the mechanics were proven before the engagement started, so the time went into the part that was theirs.

We build the product; the client launches the brand. That is the arrangement, and it only works if the handover is real: Annurax Exchange owns the source code, had a launch date in writing before work started, and can check every figure on this page against a public ledger.

We had a licence sitting idle and every quote we pulled came back six figures on a nine-month timeline. Miracuves had a matching engine, settlement and the trading surface already built, so we spent our time on branding, the on-ramp and our reward token instead of on order books. The platform was running inside a month, and we have had no settlement incidents since.

Anton Barbaro, Founder & CEO · Annurax Exchange

The line between reused and built.

The work sat where it always sits on this base: listed markets, your token, kyc & aml policy. Everything else on the list below arrived already built and proven on other engagements running the same base.

4Applications and consoles shipped, each with its own permissions and release pathDelivered
20Platform modules reused unchanged from the Binance Clone baseDelivered
5Decisions built for Annurax Exchange: listed markets, your token, kyc & aml policyDelivered
3Environments: development, staging and productionDelivered
100%Source code transferred to Annurax Exchange’s own accountContractual

What Annurax Exchange actually needed.

A crypto exchange is not one feature. It is 25 distinct pieces that all have to work together before a single customer can be served, and most of them already existed and had been proven elsewhere.

That distinction decides the shape of a project like this. A business does not need a dispatch engine or a settlement ledger to be invented again; it needs one that already works, then it needs the handful of decisions that make the product theirs rather than anyone else’s. The four below are the load-bearing pieces Annurax Exchange would otherwise have spent months building before proving anything to a customer.

Every platform of this kind has the same shape underneath: a set of load-bearing parts that must be correct before a single customer can be served, and a much smaller set of decisions that make it one business rather than another.

Building the first set from zero would have consumed the window before the second was even discussed. That is the decision this engagement turned on, and it was taken before any code was written.

Spotorder book, pairs, charts
Futures & forexleverage, margin,
P2P with escrowpeer trades, dispute hold
Binary & practicepaper trading, options

What we settled before building.

Which of the 25 pieces were already solved, and which were genuinely Annurax Exchange’s to decide. Getting that line in the right place before any code is written is what keeps a Binance Clone engagement short, and it is the conversation we would rather have honestly than optimistically.

Where a scope genuinely does not fit a proven base, we say so during scoping and quote it as a custom build instead, even when that costs us the larger and more comfortable project.

01

Read the requirement back to first principles

What must exist at launch, separated from what a business can add once it has customers. Those are different lists and conflating them is what makes projects run long.

02

Base versus build, capability by capability

Each of the 25 capabilities assessed against the existing base as covered, partial or absent. Partial is treated as absent, because a half-fitting module costs more than a new one.

03

Mark what only Annurax Exchange could decide

5 decisions were commercial or jurisdictional rather than technical. Those were theirs, and the engagement is where they got implemented.

04

Agree the line before writing anything

20 pieces reused unchanged, 5 built. Fixing that line up front is what turns a platform of this size into a six-working-day build.

The parts that are genuinely hard.

Not marketing difficulty, actual difficulty. These are the problems any serious Binance Clone has to solve properly, and the reason building one from a blank page is a multi-quarter commitment rather than a sprint.

Each was solved once, on the base, and has been under load on other builds since. Annurax Exchange inherited the solutions rather than the problems.

01

Matching under load

Price-time priority has to hold when the book is moving fastest, which is exactly when the infrastructure is under most stress and mistakes are most expensive.

Already solved in the base: Spot
02

Custody is the whole risk

Hot, cold and custodial balances must reconcile continuously against on-chain reality. A ledger that drifts from the chain is an incident, not a bug.

Already solved in the base: Futures & forex
03

Compliance is not a feature

KYC, AML screening and jurisdictional limits decide whether the exchange may legally operate, and they touch every flow rather than sitting beside them.

Already solved in the base: P2P with escrow

What we did not have to build for Annurax Exchange.

Every platform is made of the same mechanics underneath. This is the account of which of them Annurax Exchange paid attention to, and which were already solved.

Built from nothing, Annurax Exchange would have meant paying for the mechanics again: the accounts, the sessions, the payments, the admin, the permissions. That work is real, it is slow, and none of it is what makes this product different from the next one. Starting from the Binance Clone base moved that cost out of the project entirely, and the platform itself was deployed in 6 working days.

What that bought is attention. The engagement went into the 5 parts that were actually different, instead of being spread thin across 25 of them.

Shipped ready-made20 of 25
01
Spotorder book, pairs, charts
02
Futures & forexleverage, margin,
03
P2P with escrowpeer trades, dispute hold
04
Binary & practicepaper trading, options
05
API gatewayauth, rate limits,
06
streamorder book, tickers,
07
Event busasync fan-out, retries
08
Settlement ledgerappend-only double-entry
09
Matching engineprice-time priority,
10
bookspot, margin, futures
11
Risk & liquidationexposure caps, margin
12
controlhot, cold, withdrawal
13
Chain integrationdeposits, confirmations,
14
disputesholds, release, appeal
15
screeningtiers, watchlists, case
16
Fees & rewardsmaker, taker, referrals
17
tradingstrategy execution, API
18
storeledger, orders,
19
realtimeorder book, tickers,
20
Object storageidentity documents,
Made for Annurax Exchange5 of 25
01
Listed marketsyour pairs and tokens
02
Your tokenissuance and utility
03
KYC & AML policyyour regulator's rules
04
Fee schedulemaker, taker, withdrawal
05
Brand & themingweb and app
Build all 25 from nothing, mechanics included 20 already solved, so the effort went to the 5 that were not

What this market demanded.

An exchange operates under whichever regime it is licensed in, and that decides listed markets, KYC depth and how custody must be held. None of it is cosmetic.

None of that is optional, and none of it is something a platform can guess on a client’s behalf. It is precisely why the 5 decisions listed further down sat with Annurax Exchange rather than with us: they are commercial and jurisdictional questions, and the base exists so that answering them is the whole job rather than the last ten per cent of it.

Everything that shipped with it.

The full working set Annurax Exchange took delivery of. Each piece was already built and proven on other engagements before this one started, which is the only honest reason a platform of this size stands up in six working days rather than months.

None of it is a demo or a scaffold. These are the same components running under other businesses in other markets, which means the failure modes are already known and already handled rather than waiting to be discovered by Annurax Exchange’s first real customers.

Reused from the Binance Clone base

Spotorder book, pairs, charts
Futures & forexleverage, margin,
P2P with escrowpeer trades, dispute hold
Binary & practicepaper trading, options
API gatewayauth, rate limits,
streamorder book, tickers,
Event busasync fan-out, retries
Settlement ledgerappend-only double-entry
Matching engineprice-time priority,
bookspot, margin, futures
Risk & liquidationexposure caps, margin
controlhot, cold, withdrawal
Chain integrationdeposits, confirmations,
disputesholds, release, appeal
screeningtiers, watchlists, case
Fees & rewardsmaker, taker, referrals
tradingstrategy execution, API
storeledger, orders,
realtimeorder book, tickers,
Object storageidentity documents,

Built for Annurax Exchange

Listed marketsyour pairs and tokens
Your tokenissuance and utility
KYC & AML policyyour regulator's rules
Fee schedulemaker, taker, withdrawal
Brand & themingweb and app

The base this was built on.

The same architecture carries every Binance Clone on this page. The filled blocks are the parts built for Annurax Exchange.

Binance Clone architecture MXCrypto / filled = built for this client
Binance Clone: the architecture, and one trade traced through it 4 client surfaces reach an edge of gateway, realtime channel and event bus. The base holds 10 services, of which Settlement ledger is the source of truth, and 5 blocks are built for each client. Partner services sit behind a boundary and are chosen by the client. Underneath, one trade is traced across 5 steps. 20 of 25 blocks are reused unchanged. Binance Clone MXCrypto Six documented builds run on this base. Only the filled blocks are built for you. Ships ready-made Built for this client Surfaces Edge The base - already built Partner boundary Data Spot order book, pairs, charts Futures & forex leverage, margin, liquidation P2P with escrow peer trades, dispute hold Binary & practice paper trading, options API gateway auth, rate limits, idempotency Market data stream order book, tickers, fills Event bus async fan-out, retries Settlement ledger append-only double-entry postings SOURCE OF TRUTH Matching engine price-time priority, fills Order & position book spot, margin, futures Risk & liquidation exposure caps, margin calls Wallet & custody control hot, cold, withdrawal approval Chain integration deposits, confirmations, sweeps P2P escrow & disputes holds, release, appeal Identity & screening tiers, watchlists, case queue Fees & rewards maker, taker, referrals Algorithmic trading strategy execution, API keys Built for this client Listed markets your pairs and tokens Your token issuance and utility KYC & AML policy your regulator's rules Fee schedule maker, taker, withdrawal Brand & theming web and app chosen by the client Custody their custodian Market data their price feed KYC & screening their provider Fiat on-ramp their banking rail Push & email their sender Transactional store ledger, orders, identities Cache & realtime order book, tickers, sessions Object storage identity documents, statements one trade, end to end every step below runs on blocks that already existed 1 Place pair, side, size 2 Reserve funds held, limits checked 3 Match price-time priority, fill 4 Post double-entry, both accounts 5 Settle balances final, fee taken NODE.JS · MYSQL · FULL-NODE BLOCKCHAIN INTEGRATION 20 of 25 blocks reused unchanged 5 built for you
This is the Binance Clone base, drawn as it was actually assembled for Annurax Exchange. The plain blocks are the ready-made platform and shipped as they are. The filled blocks are the ones we built for this client. 20 of 25 blocks were reused, 5 were built.

Why none of this had to be written again.

Each of these was already running on other builds of the same base before Annurax Exchange started. That is the whole reason the platform was standing in days rather than months.

Spotorder book, pairs, charts
Futures & forexleverage, margin,
P2P with escrowpeer trades, dispute hold
Binary & practicepaper trading, options
API gatewayauth, rate limits,
streamorder book, tickers,
Event busasync fan-out, retries
Settlement ledgerappend-only double-entry
Matching engineprice-time priority,
bookspot, margin, futures
Risk & liquidationexposure caps, margin
controlhot, cold, withdrawal
Chain integrationdeposits, confirmations,
disputesholds, release, appeal
screeningtiers, watchlists, case
Fees & rewardsmaker, taker, referrals
tradingstrategy execution, API
storeledger, orders,
realtimeorder book, tickers,
Object storageidentity documents,

The decisions that were actually theirs.

A ready-made base does not remove these; it removes everything underneath them. Each one below is a choice Annurax Exchange had to make, and the engagement is where those choices got implemented.

Listed markets

The pairs and tokens the exchange lists, and the liquidity behind them.

Why it sat with themThe markets they sell into decide this. Adding one later is configuration rather than a rebuild, which is exactly why it is exposed as a decision.

Your token

Issuance, utility and how it moves inside the platform.

Why it sat with themWhat a customer gets for their money is the offer itself. The base enforces it; they define it.

KYC & AML policy

What the regulator requires, and the evidence trail that proves it.

Why it sat with themWhere the line sits is theirs to draw, and it moves with their audience. We built the controls and left the thresholds to them.

Fee schedule

Maker, taker and withdrawal pricing.

Why it sat with themTake rate and pricing are the business model itself. We implement the numbers they set; we do not choose them.

Brand & theming

The identity carried across every surface, so it reads as the client’s product rather than a template.

Why it sat with themThe base has to disappear behind their identity, so this is applied across every surface rather than skinned on one.

What the six days actually cover.

Our build time on a ready-made base, and nothing else. The parts that sit with the client are named plainly.

01

White-label

The base is rebranded to the client’s identity across every surface.

02

Deploy

Stood up on the client’s own hosting, not ours.

03

Publish

Apps submitted from the client’s own developer accounts.

04

Handover

Source, schema, deployment configuration and architecture notes transferred.

The client supplies the hosting and domain, a verified developer account we publish from, branding and business details, an onboarded payment gateway with KYC complete, and any third-party API keys. Store review and merchant onboarding are controlled by Apple, Google and the payment provider, so those sit outside our window. Every figure here is defined on the facts page.

Who uses it, and for what.

Rather than screenshots of a product that has moved on since delivery, this is the set of surfaces that shipped and what each one is for. Annurax Exchange received every one of them, with the source behind each.

Every role here is a separate application with its own permissions, its own state and its own release path. Building them to work as one system is most of the engineering in a platform of this kind, and it is the part that was already finished before this engagement began.

Spot
order book, pairs, charts
Futures & forex
leverage, margin,
P2P with escrow
peer trades, dispute hold
Binary & practice
paper trading, options

What guards the platform.

Built into the base and hardened across every engagement running it, rather than bolted on at the end of this one. Security added late is security that has to be argued for; the controls below were load-bearing from the first deployment.

We claim the process, not a certificate. Miracuves does not hold ISO 27001, and we do not say otherwise: we build to the controls those frameworks require, and the evidence trail is there for an auditor who asks.

P2P with escrow

peer trades, dispute hold. Part of the base, so it was proven before this engagement started.

Settlement ledger

append-only double-entry. Part of the base, so it was proven before this engagement started.

Role separation

Each surface sees only what its role permits, enforced server-side rather than hidden in the interface.

Audit trail

Who changed what and when, retained so a dispute can be answered with a record rather than a recollection.

Transport and storage

TLS end to end, credentials hashed, and anything sensitive at rest encrypted rather than merely obscured.

Secrets handling

Keys live in environment configuration on their own infrastructure, never in the repository we hand over.

Card data stays out

Payment details go to the gateway directly. The platform holds a reference, not a card number.

What it connects to.

The connection points are part of the base and were already written and tested. Which providers sit behind each one was Annurax Exchange’s decision, because those choices are commercial and jurisdictional rather than technical.

This is also where the client-side dependencies live. Gateway onboarding, KYC approval and merchant review are controlled by the provider, not by us, which is why they sit outside the build window rather than inside it.

Every one of these was already wired and tested in the base. What changed for Annurax Exchange was which account sat on the far side of it.

Payments and payoutsgateway of their choosing
Identity and KYCprovider per jurisdiction
Object storage and CDNtheir bucket, their region
Media pipelinetranscode and delivery
Market data feedsrates and reference prices
Calendar and schedulingavailability and reminders
Push and transactional emailsent under their sender identity
App store developer accountspublished from their own accounts
Error and uptime monitoringhanded over with the source

What it runs on.

The platform stack for MXCrypto. This describes the base as it stands today; Annurax Exchange took delivery of the source and has owned it since.

Platform
JS
The stack the MXCrypto base runs on, already in production elsewhere
Surfaces
SpotFutures & forexP2P with escrowBinary & practice
Each a separate application with its own permissions and release path
Client decisions
Listed marketsYour tokenKYC & AML policyFee scheduleBrand & theming
Configured for Annurax Exchange during the engagement
Handover
SourceSchemaDeployment configArchitecture notes
Transferred at the end of the build

Where the six days went.

Our build time only. Store review and merchant onboarding are controlled by Apple, Google and the payment provider, so they sit outside this window and we do not count them as ours. Stating that plainly is the difference between a build time and a promise we cannot keep. Every figure here is defined on the facts page.

The six working days are guaranteed. If a ready-made platform is not live in six, we keep working free until it is. A deadline nobody is accountable for is not a deadline, and a guarantee nobody pays for is not a guarantee.

Throughout, a named team worked the build and sent Annurax Exchange progress on WhatsApp every working day. There was never a week where nobody knew where it stood, which is the part clients tell us they notice more than the date itself.

6 working days our side of the window

The bar below is that window, day by day. Nothing outside it is counted as ours, and nothing inside it waits on someone else.

Day 1
Base stood up and white-labelled
Base stood up and white-labelled
Days 2-4
5 client decisions implemented
5 client decisions implemented
Day 5
Deployed, apps submitted
Deployed, apps submitted
Day 6
Source, schema and config handed over
Source, schema and config handed over

This base has done this before.

Annurax Exchange was not the experiment. The base underneath this build had already carried other businesses in other markets before it carried theirs, which is the whole argument for reuse: the risk was retired by somebody else’s project, not by this one.

Across everything delivered since 2010 that is more than 9,000 products for over 6,000 businesses across 35+ industries. The eighty-four documented on this site are the ones with a named client and permission to show the work; most of the rest sits under NDA or white-label and is deliberately not here at all.

Every number on this page is defined and sourced on a public facts ledger. That is the whole instinct behind how this company is run: most vendors ask you to trust them, and we would rather you checked us. If we cannot back a claim, we do not make it, which is why you will not find a satisfaction percentage or an unnamed award anywhere on this site.

20 of 25

Blocks reused unchanged on this build, each already under load on other engagements.

Architecture
6

Documented builds running on the Binance Clone base, in different markets.

Portfolio
9,000+

Products delivered for more than 6,000 businesses across 35+ industries since 2010.

Company record
3,900+

Apps published under clients’ own brands, counted per store release.

Company record

What the client reported.

Figures supplied by the client and published with their name against them.

Zero settlement incidents in six months reported by the client

The base carried the load-bearing parts, so the engagement went into what made this build theirs rather than anyone else’s.

Anton Barbaro, Founder & CEO, Annurax Exchange
6 working daysOur build window on this engagement.Miracuves delivery record
100%Source code transferred to Annurax Exchange’s own account.Contractual
20 of 25Blocks reused unchanged from the base.Binance Clone architecture

We had a licence sitting idle and every quote we pulled came back six figures on a nine-month timeline. Miracuves had a matching engine, settlement and the trading surface already built, so we spent our time on branding, the on-ramp and our reward token instead of on order books. The platform was running inside a month, and we have had no settlement incidents since.

Anton BarbaroFounder & CEO, Annurax Exchange

What Annurax Exchange holds now.

The same on every engagement. What happened to the platform after handover was theirs to decide.

GITApplication sourceFull repository history, transferred to their accountDelivered
APPMobile projectsSources with signing documentedDelivered
SQLSchema and migrationsReproducible from empty, not a dumpDelivered
ENVDeployment configurationAnother team can run it unaidedDelivered
MDArchitecture notesWhat was chosen, what was rejected, whyDelivered
60dSupport windowSixty days included, six and twelve month optionsDelivered

The questions that decide this.

Answered for this build. The same answers hold for every Binance Clone in the portfolio.

Do we own the code?

Yes. The full repository history transferred to Annurax Exchange’s own account at handover, with deployment configuration and architecture notes. It is not a licence and it is not held against a support contract.

How is six working days realistic?

Because 20 of the 25 pieces were built and proven before the engagement started. The six days are our build time on that base, not a calendar promise.

What sat with Annurax Exchange?

Hosting and domain, a verified developer account we publish from, branding and business details, an onboarded payment gateway with KYC complete, and any third-party API keys.

Will it look like everyone else’s?

No. The base supplies mechanics, not identity. Branding, flows and every customer-facing screen were built for this product.

Is this what the platform looks like today?

This describes what was delivered in 2024. What happened afterwards was Annurax Exchange’s to decide; the source transferred at handover. Clients move on, rebuild, or sell up, and none of that changes what was delivered or how it went.

Would you have said no to this project?

We are a good fit for a founder who wants a proven model launched fast, a deadline they can hold us to, and code they own outright. We are a poor fit for anyone who needs a team embedded in their office full-time, or who wants a blank page and a six-month roadmap. Being straight about that up front saves everyone a call.

Who actually worked on it?

A named team, not a rotating pool. Our leadership is public with real profiles rather than a stock-photo team page, and progress went to Annurax Exchange on WhatsApp every working day of the build.

Building something like this?

Tell us what you are building and we will say plainly whether a ready-made base fits it, including when the answer costs us the larger project.