Product discovery for Bitcoin-backed lending platform

Innowise conducted a discovery phase for Bitlendex, helping the client transform an early-stage product concept into a validated business model and clearly defined MVP.

1 month

for a full discovery phase

Product Discovery for Bitcoin Lending Platform Innowise.

Industry FinTech

Employees 2-10

Region USA

Services Product Discovery
Business Analysis

Client since 2025

Client overview

Summarize article with AI

Bitlendex is a fintech startup planning to launch a Bitcoin-backed lending platform that enables Bitcoin holders to access liquidity without selling their assets while allowing investors to finance those loans using USD stablecoins.

Challenge

Bitlendex had a clear business vision of their product but required expert guidance to answer several critical questions before development:

How should a non-custodial lending platform be architected?
Which third-party providers should handle Bitcoin custody and fiat payments?
What functionality should be included in the MVP?
How should borrower and lender workflows operate?
What architecture would support future automation and scalability while remaining compliant?

Develop your lending platform with Innowise

Solution we delivered

The first stage of the discovery phase focused on refining the client’s initial concept into a clearly defined product.

Through collaborative meetings, our team designed the platform architecture and defined the end-to-end lending and loan repayment flows. We outlined the responsibilities of borrowers, lenders, and administrators, then evaluated and selected technology providers and partners. Finally, we validated the business model based on commercial proposals and delivered the website design concept for the lending platform and its Admin Panel.

DEFINING THE MVP

Once the product vision had been agreed upon, together with the client, we prioritized the functionality required for the initial product launch.

The proposed MVP included:

user onboarding and account management
loan calculation and risk simulation
Bitcoin-backed borrowing, including BTC collateral deposit, loan issuance through the lending protocol, off-ramp, and fiat payout
loan review and agreement workflows
loan repayment and collateral management
risk management and liquidation
loans and transaction history
notifications
administrative tools for manual deal management

The proposed MVP gave Bitlendex a clear plan for the first product release. This allowed the client to postpone more advanced capabilities while preparing a realistic scope for the initial launch.

DESIGNING THE TECHNICAL FOUNDATION

One of the key architectural recommendations was adopting a non-custodial operating model. Instead of storing customer Bitcoin, the platform would integrate with qualified custody providers while focusing on facilitating lending transactions and managing the loan lifecycle. This approach aligned with the client’s vision of reducing operational complexity while building a trusted lending platform.

With the MVP defined, Innowise focused on translating the product requirements into a scalable technical concept. The team evaluated technologies and third-party providers required to support Bitcoin custody, stablecoin payment flows, off-ramp and fiat payout services, notifications, and market data.

Based on these findings, Innowise recommended a modular architecture and a technology ecosystem aligned with Bitlendex’s non-custodial business model, security requirements, and future growth plans.

Key architectural decisions included:

non-custodial platform design
external Bitcoin custody integration
stablecoin (USDC) as the fiat equivalent
integration with off-ramp and fiat payout providers
scalable backend services supporting future automation

Our goal during the discovery phase was to help the client answer the critical questions before the platform’s development began. By combining business analysis, blockchain expertise, solution architecture, and UX design, we created a structured implementation plan that gave Bitlendex a clear direction for bringing its product to market.

Yuliya Sedukova Business Analyst

Technologies

Based on the discovery findings, Innowise recommended the following technology ecosystem for the future implementation of the platform.

Frontend

React

Backend

NestJS, Node.js

Database

MongoDB, Redis

Cloud infrastructure

AWS

Third-party systems

Fireblocks, BitGo, Unchained, Sumsub, ari10

APIs & Services

Twilio, API Ninjas

Team

Project Manager

Business Analyst

Solution Architect

UI/UX Designer

Blockchain Consultant

Results

Project duration

November 2025

Within 1 month of the discovery phase, our client got a validated product concept and a clear implementation strategy before entering development.

By aligning business objectives with technical architecture and delivery planning, our team helped reduce project uncertainty, identify potential risks early, and establish a solid foundation for future development.

By the end of the engagement, the client received:

Product vision and scope documentation
High-level solution architecture
MVP definition
UX concept
Technical implementation roadmap
Development estimate
Technology recommendations
Third-party integration strategy

Develop your lending platform with Innowise

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