mesh TR EN Discovery Call
Product Family/Exchange Platform — iExchange

Launch your own exchange
on working technology.

Exchange software offering spot and futures trading on a single platform, licensed module by module. From the matching engine to the wallet infrastructure, the entire stack is our own build.

Self-hosted or managed delivery · Module-based licensing

Market coverage

Five asset classes on a single engine

Crypto, forex, metals, commodities and index markets all run on the same matching core.

0
Futures markets
~0
Spot markets
1
Matching engine
Technology

The full stack beneath the exchange

01

Spot + futures, one platform

The two trading types don't require separate systems; your users work with one account, you work with one panel.

02

Proprietary Rust matching engine

The matching core is written in Rust for performance — not licensed from a third party, but our own development.

03

Multi-chain wallet infrastructure

Deposit and withdrawal flows run on multi-chain wallet infrastructure; adding an asset is an operational task.

04

KYC & fraud systems

Identity verification and abuse detection are integrated into the platform; the user lifecycle is tracked end to end.

05

Admin control plane

Markets, fees, users and risk parameters are controlled from a single admin panel.

06

AI support agent

An AI support agent handles user questions on the first line; your team focuses on the exceptions.

Inside the engine

Why the matching engine is the whole product

Everything else on an exchange can be replaced. The engine cannot — it decides whether your liquidation prices are defensible, whether an order book stalls at the worst possible minute, and whether a dispute ends in a refund. Ours is written in Rust, in-house, and it is the part we will happily talk about for an hour.

01

In-memory order book

Orders match in memory, not through a database round trip. Persistence happens on the side of the hot path rather than inside it, which is what keeps latency flat when a market moves and everyone acts at once.

02

Decimal money maths, never float

Every balance, fee and PnL figure is computed in fixed-point decimal. Floating point saves nothing here and eventually produces a balance that is a fraction off — which, on an exchange, is a support ticket you cannot close.

03

Full order-type set

Limit, Market, Stop, Take-Profit, Trailing Stop, IOC, FOK and ReduceOnly — implemented in the engine, not simulated in the interface. Traders arriving from a major exchange find what they expect.

04

Leverage to 500×, isolated and cross

Tiered leverage up to 500× with both isolated and cross margin, plus hedge mode for holding long and short on the same symbol. Risk tiers are configured per market rather than hard-coded.

05

Candles that end arguments

Only the one-minute base candle comes from an independent source; every higher timeframe is derived mathematically from it in TimescaleDB. This removes the most common dispute an exchange faces — a liquidation wick a user says did not exist.

06

Real-time WebSocket

Order book, trades, positions and balances stream over WebSocket. Mobile runs on one web codebase shipped to iOS and Android through Capacitor, so a feature ships once instead of three times.

Custody & security

Where the keys live

Exchanges do not usually fail at matching. They fail at custody. 43 currencies across 89 networks, with signing built and verified in-house rather than rented from a third-party custodian.

KEY

Nodeless signing, written in-house

BTC via xpub HD derivation, every EVM chain, TRON, Solana and Dogecoin. Live today: BTC, ETH, BSC, Arbitrum, Base, Polygon, TRON and Dogecoin. Keys are Vault-encrypted and never leave platform-controlled infrastructure.

H/C

Hot and cold separation

Operational float sits hot; the rest sits cold. Treasury movement between them is an approved, logged action in the admin plane rather than an engineer with a terminal.

TKN

Sessions are long, money moves are not

A session can last 90 days — traders hate re-authenticating. But every single money movement requires its own one-time signed action token. Stealing a session does not get you a withdrawal.

2FA

Passkeys, TOTP, WhatsApp OTP

WebAuthn passkeys for users who want the strongest option, TOTP for the conventional path, WhatsApp OTP for markets where that is simply what people use. Device fingerprinting runs underneath all three.

RSK

Transparent risk scoring

Anti-fraud runs as an independent service producing a 0–100 score whose weights the operator can edit. You can explain to a user — or a regulator — exactly why an account was flagged.

OPS

Archon admin plane

Markets, currencies, fees and leverage tiers; deposit and withdrawal approval; treasury; the market-maker bot fleet; KYC and compliance; support; licence management — all behind role-based access, all logged.

Licensing

Start with Base, grow by module

BaseThe spot exchange core: matching, wallets, KYC/fraud, admin plane.
Add-onFutures

Futures markets and the risk engine.

Add-onMarket-Making

Liquidity and market-making tools.

Add-onStaking

A layer for offering staking products to your users.

Delivery: self-hosted or managed — based on your infrastructure preference.
What it costs

What actually drives the number

"How much does it cost to launch an exchange?" has no honest single answer, and the vendors who give one are quoting a demo, not a business. Five things move the figure — here they are, so you can size it before you talk to anyone.

01 · Modules

Base, or Base plus derivatives

Base covers authentication, wallets and spot trading. Futures, market-making, staking and cards are separate. Spot-only is a materially different build from a derivatives venue — the risk engine, liquidation logic and treasury discipline are where the weight sits.

02 · Assets and chains

How many currencies and networks

Each chain carries its own node or signing path, its own confirmation rules and its own failure modes. Ten assets on three chains is not one third of thirty assets on nine. Start narrow; adding an asset later is an operational task, not a project.

03 · Liquidity

Where the other side of the trade comes from

A launched exchange with an empty order book converts nobody. The market-making module and bot fleet ship with the platform, but the capital behind them is yours, and that is usually the largest line in the plan — bigger than the software.

04 · Delivery

White-label, cloud or self-hosted

White-label is fastest to launch. Self-hosted puts the code and the data on your infrastructure and makes running costs yours. Which one is right is usually decided by your licence, not by preference.

05 · Compliance surface

Which regulator you answer to

KYC provider, travel-rule handling, reporting and data residency vary by jurisdiction, and each adds integration work. Tell us the licence you are pursuing early — it changes the architecture, not just the paperwork.

Licensed by module, delivered white-label, cloud or self-hosted. One call is enough for a real range. If your plan needs liquidity you do not yet have, we will tell you that before quoting software.

Build, buy, or white-label

Six questions worth asking any vendor

Including us. Exchange demos all look like an exchange. These questions separate a real platform from a skin over someone else's engine.

  1. Did you write the matching engine?

    Many "exchange platforms" license a third-party engine and build a UI. Ask directly. Then ask what happens when you need a change in the engine — if the answer involves another vendor's roadmap, that is your roadmap now.

  2. Where do the candles come from?

    If every timeframe is sourced independently, timeframes will eventually disagree with each other and a liquidation dispute becomes unwinnable. Ask which candle is authoritative and how the rest are produced.

  3. Who can sign a withdrawal?

    Ask for the exact path from user request to signed transaction, and who could shortcut it. If custody is outsourced, ask what happens to your users if that custodian has a bad week.

  4. Is money movement separate from session?

    A long session is good for traders and dangerous for balances unless each transfer is separately authorised. Ask what an attacker with a valid session can actually do.

  5. Can you show the admin plane, not just the trading screen?

    Demos show the trader view because it is pretty. You will live in the admin plane. Ask to see treasury, withdrawal approval and the audit log.

  6. What does self-hosted actually exclude?

    "Self-hosted" often still phones home for pricing, KYC or licence checks. Get the list of outbound dependencies in writing before your regulator asks for it.

Frequently asked

Questions before launching

How much does crypto exchange software cost?
There is no single figure. Cost is driven by which modules you licence (spot only, or spot plus futures, market-making, staking, cards), how many assets and chains you list, your delivery model (white-label, cloud or self-hosted) and the compliance surface of your jurisdiction. Licensing is per module. One call is enough for us to give a real range — and note that in most launch plans the market-making capital is a bigger number than the software.
Did you build the matching engine yourselves?
Yes. The futures engine is written in Rust in-house — not licensed from a third party. It runs an in-memory order book, computes all money in fixed-point decimal, and implements the full order-type set (Limit, Market, Stop, Take-Profit, Trailing, IOC, FOK, ReduceOnly) in the engine rather than simulating it in the interface. Because we own it, engine-level changes are our roadmap rather than another vendor's.
Does it support both spot and derivatives?
Yes, on a single matching core — 82 live futures markets and around 58 spot markets, spanning crypto, forex, metals, commodities and indices. Users hold one account and you operate one panel, rather than bolting a futures venue onto a spot exchange.
What leverage and margin modes are supported?
Tiered leverage up to 500×, with both isolated and cross margin, plus hedge mode so a user can hold long and short on the same symbol. Risk tiers are configured per market from the admin plane rather than hard-coded.
How is custody handled — who holds the keys?
Signing is nodeless and written in-house: BTC through xpub HD derivation, every EVM chain, TRON, Solana and Dogecoin. Live today are BTC, ETH, BSC, Arbitrum, Base, Polygon, TRON and Dogecoin — 43 currencies across 89 networks in total. Keys are Vault-encrypted and never leave platform-controlled infrastructure, with hot and cold separated and treasury movement between them an approved, logged action.
How do you handle liquidation disputes?
By removing the ambiguity that causes them. Only the one-minute base candle is independently sourced; every higher timeframe is derived mathematically from it in TimescaleDB. Timeframes therefore cannot disagree with one another, so "that wick never happened" becomes a question with a verifiable answer.
What stops a stolen session from draining an account?
Sessions are deliberately long — up to 90 days, because traders hate re-authenticating — but session validity alone authorises nothing financial. Every money movement requires its own one-time signed action token. Authentication supports WebAuthn passkeys, TOTP and WhatsApp OTP, with device fingerprinting underneath.
Can we launch without our own liquidity?
Not honestly. The market-making microservice and bot fleet ship with the platform and are managed from the admin plane, but they deploy capital you provide. An exchange with an empty book converts nobody, so we would rather discuss the liquidity plan before quoting software than sell you a platform that cannot open.
Do you obtain the licence?
No. Mesh supplies the software; obtaining and maintaining the regulatory licence is the customer's responsibility. Tell us early which jurisdiction you are pursuing and we will shape the architecture around it — KYC provider, travel-rule handling, reporting and data residency all follow from that decision. We do not provide licensing advice; work with legal counsel who specialise in it.
Can we run it on our own infrastructure?
Yes — delivery is white-label, cloud or self-hosted. Self-hosted is usually the answer when a licence imposes data residency. Ask us for the list of outbound dependencies; we will put it in writing, because your regulator will eventually ask for exactly that.
What does the admin side look like?
Archon is the control plane: market, currency, fee and leverage configuration; deposit and withdrawal approval; treasury; the market-maker bot fleet; KYC and compliance; support; and licence management — all behind role-based access with actions logged. It is the screen your team will actually live in, and we show it in the demo rather than only the trading view.
Is there mobile support?
Yes. Mobile runs from a single web codebase packaged for iOS and Android through Capacitor, so a feature is built once rather than three times. That keeps the platforms in step instead of the mobile app trailing the web by two releases.
Is there user support built in?
Sam, an AI support agent, answers first-line questions with authorised access to the user's real balances, positions and trade history — so "where is my withdrawal" gets an actual answer instead of a ticket. Your team handles the exceptions.
Next step

See the engine running