We are Hypto — and it’s day 0! (part 2)

The How?

Hypto’s 3 vertical approach

The history of new technologies shows that apps beget infrastructure

(Reference: https://www.notboring.co/p/the-interface-phase)

We believe that as a company, Hypto will go through both phases in equal measure. We built our 1st financial application — a payment aggregation platform that has processed over 15Bn $ over the past 18 months. And in doing that, we understood the need to build the right infrastructure that can support applications that can handle 10x that scale and multiple other features.

Hence, we will always be having 3 separate verticals — the financial applications, web services for financial infrastructure and the external connectors (open-source).

By splitting what we do into 3 distinct verticals, we are able to invest the right amount of resources and focus on each vertical independently.

The Hypto flywheel

The vision behind Hypto was born out of necessity when we built our payment aggregation platform. Processing millions of API requests across over 100Mn$ of payment value per day required us to think modular, flexible and scalable services, while handling multiple constraints such as idempotency and concurrency. We also ended up having to prioritize between the banks we chose to work with, despite getting access to multiple banks, due to the unique and challenging grunt work of integrating with legacy systems

We ended up replicating many things that many companies spent Millions of dollars to solve for and could be ‘delivered as a service’. We also decided that the technical challenges that we faced while working on the connecting pipes with banks should not be faced again by others — hence, our decision to Open-Source the connector layer. We will foster a community that adds value to this layer by providing multiple connectors that they have integrated or launch new connectors that give access to their products.

Decoupling Hypto’s core from the presentation layer was the first step to help build embeddable financial products. But we are going one step deeper and splitting the core into primitive building blocks that can be consumed as a fully/semi managed infrastructure as a service and open-sourcing the connectors that can be deployed on these Hypto web service infrastructure.

By bringing down the time to launch a unique insight to market by 10x, we are enabling rapid prototyping of financial products and use cases that will spur a flywheel of innovation on top. For example, today if a developer wanted to launch a neo-bank that is capable of handling multiple asset classes (say fiat and crypto), we would enable that by providing

1. Wallet service that is capable of storing anything of value
2. Ledger service that can record transactions in an immutable fashion
3. Reconciliation service that syncs across multiple systems to provide a single source of truth at any given point
4. Open source connectors — for bank pipes and blockchain networks

While these services would take their source from financial use cases, they would be built in a generic way that can be applied to a plethora of use cases. For example, a wallet service in itself can be used to store anything of value — such as tickets (perishable items), NFTs (non perishable items), currency (divisible), documents (non divisible). Similarly, a transaction ledger service can be used for anything that requires an immutable verifiable transaction record to be stored — building a saas accounting platform to a loyalty management system on an e-commerce site.

We are witnessing a paradigm shift today in financial services — the space is attracting the best developers — this will lead to market expansion and creation of new verticals within the space. We are building the tools required to build modern financial applications with quickest time to market and are best placed to capitalize on this market expansion — make & sell shovels during a gold rush 😉

Past, present and future

This concludes our 2 part series on ‘We are Hypto — the what, why and how?’

Find this exciting?

We would love to connect and discuss potential opportunities to work together across all verticals — engineering, product, design, marketing, growth, partnerships, business, operations, HR, and most definitely recruitment.

Join us on our journey to build the next generation of web services that democratize access to finance for developers and businesses. Write to me at aravind@hypto.in or bestdaysofyourlife@hypto.in