Tokenization platforms and regulated stablecoins, engineered like a product. We turn real-world assets into audited on-chain instruments across Ethereum, Stellar, Algorand and 5 more chains, with reserve attestation and redemption under 8 seconds built in. Estonian precision, independently audited since 2019.
Engagements start at EUR 18,000 Regulated platform: up to EUR 540,000
Where our engineers publish and speak
Blockchain Factory is a blockchain development company based in Tallinn, Estonia, that engineers tokenization platforms and regulated stablecoins for FinTech issuers and enterprise clients. Founded in 2019, it has shipped 124 mainnet contracts with zero critical findings in production.
Blockchain Factory assembles regulated token systems from nine engineering blocks rather than one bespoke build per client. Each block ships as production code with its own price, from a tokenization proof of concept at EUR 18,000 to a full regulated stablecoin platform. Every engagement closes with a running system, never a prototype.
Real world asset tokenization across bonds, funds and commodities: each turned into an audited, transferable on-chain token with engineered issuance and redemption paths. Our tokenization platform development covers the full stack from smart contract architecture to custody.
From EUR 18,000, the Factory Start price for a tokenization proof of concept.
Scope a proof of conceptStablecoin payment development for FinTech issuers: fiat-backed systems with on-chain reserve attestation, sub-10-second redemption and stablecoin rails development built for MiCA-compliant scale.
Built at Factory Scale, EUR 200,000 to 540,000 for a regulated stablecoin platform.
Talk to us about your stablecoinSecure smart contract development in Solidity and Rust, fuzzed and formally verified before mainnet. Every contract is audit ready and designed with upgradeability planning from day one.
Delivered within Factory Build, EUR 60,000 to 180,000 for an audited production contract.
Get a contract auditedKYC, transfer restrictions, allowlists and reporting hooks engineered for MiCA-ready issuance. Role-based smart contracts enforce permission design so every wallet sees only what it is allowed.
Scoped into Factory Scale; MiCA compliance work is priced line by line in the SOW, never sold as a stand-alone fee.
Discuss your compliance surfaceProof-of-reserve pipelines that publish backing on-chain on a fixed cadence, independently verifiable. On-chain data APIs surface reserve and supply figures to auditors in real time.
Built at Factory Scale, EUR 200,000 to 540,000, then maintained under Factory Care from EUR 7,900 per month.
Set up attestationSmart contract security engineering: Slither, Mythril, Foundry fuzzing and Halmos in CI plus manual review. Smart contract audit readiness is built into every sprint, not bolted on at the end.
Included in every edition's fixed price; an added audit cycle adds approximately EUR 12,000 to 25,000.
Ask about audit depthCross chain development across eight networks through one compliance abstraction layer. Multi chain integration means a new chain goes live in 1 to 2 weeks without touching your compliance logic.
Priced inside Factory Build, EUR 60,000 to 180,000; three or more chains add 2 to 4 weeks.
Add another chainDeFi protocol development for lending corridors, staking smart contracts and token-gated platforms wired to your tokenized assets. We cover both DeFi backend development and the on-chain integration layer.
Shipped as part of Factory Build, from EUR 60,000 for a production dApp.
Start a DeFi buildMPC and qualified-custodian integration so issuance and redemption never touch a single hot key. The same architecture keeps redemption under 8 seconds even with a multi-party signing quorum in the loop. Key management and oracle risk management are scoped during blockchain technical discovery, before a line of code is written.
Bundled into Factory Scale, EUR 200,000 to 540,000, alongside compliance and attestation.
Plan custody integrationWe focus on digital asset software development for regulated sectors where on-chain proof matters. Blockchain development for FinTech issuers is our primary lane, but the same tokenization infrastructure applies across:
Defined deliverables, fixed price, fixed timeline. Factory Start (EUR 18,000) and Factory Build (EUR 60k to 180k) run as fixed-scope engagements.
A named squad embedded in your product org, billing monthly. Suited to Factory Scale (EUR 200k to 540k) builds with evolving compliance requirements.
Factory Care from EUR 7,900 per month: continuous monitoring, recurring audits, reserve-pipeline upkeep and on-call incident response.
A regulated euro stablecoin where every token in circulation is matched by an attested reserve, published on-chain every month, redeemable in under 8 seconds.
Four fixed stages carry an asset from technical discovery to a live mainnet token. Discovery runs two weeks at a fixed fee and ends in a signed scope document. Architecture, then build with the external audit running in parallel, then issuance with proof-of-reserve live complete the cycle. A production token system takes 6 to 12 weeks.
We map the asset, the reserve, the redemption path and the compliance surface before any code. This blockchain technical discovery phase runs two weeks at a fixed fee and produces a signed scope document.
Smart contract architecture, token standard, attestation cadence, custody model and chain choice locked against MiCA-ready requirements. We also define blockchain infrastructure needs and oracle integration points at this stage.
Scalable blockchain development with Slither, Mythril, Foundry testing and Halmos in CI. Audit ready smart contracts from the first sprint: external audit runs in parallel, never as an afterthought. Smart contract CI CD gates every merge to main.
Smart contract deployment to mainnet with proof-of-reserve live, transaction monitoring, on-call and a documented redemption runbook. The outcome is immediate for Factory Scale holders: redemption under 8 seconds from the first live transaction. On-chain analytics feed the Factory Care dashboard from day one.
Every regulated platform is staffed from a bench of 47 engineers across seven disciplines: architecture, smart contracts, security and audit, MiCA compliance, backend integration, QA and project management. Squad size follows the edition and the scope, but a regulated build never starts with fewer than all seven of those roles filled.
Owns the overall token system design: chain selection, token standard, custody model and attestation cadence. Produces the signed architecture document that anchors the SOW.
Writes the core contracts in Solidity or Rust, runs Foundry fuzz suites and formal verification in CI, and maintains the audit-readiness gating on every merge to main.
Owns the threat model, runs Slither and Mythril static analysis, coordinates the external audit firm and resolves every finding before mainnet. The 0 critical findings record across all 124 deployments sits here.
Translates MiCA reserve segregation, redemption timing and disclosure obligations into contract-level requirements. Maintains the KYC allowlist integration, FATF Travel Rule messaging and the ISAE 3402 controls framework in parallel with build.
Builds the off-chain services that make on-chain state useful: reserve attestation pipeline, Chainlink oracle feeds, Sumsub KYC webhook handlers, The Graph subgraphs and the issuance API. Keeps on-chain and off-chain state in sync.
Owns integration testing across the full stack from contract events to API responses, writes scenario tests for edge-case redemption flows and manages the test coverage gate that every PR must pass. For Factory Scale engagements, fork tests against the locked chain run before mainnet to confirm redemption under 8 seconds ahead of launch, a settlement-timing check distinct from the functional scenario tests above.
Runs the sprint cadence, maintains the SOW milestone tracker and owns the weekly client status report. The single point of contact for scope, timeline and delivery questions throughout the engagement.
A repository link is not a delivery. Each Blockchain Factory engagement closes against seven defined artifacts: audited and source-verified contracts, a deployment runbook, the threat model, reserve and attestation hooks, a REST API with SDK, full documentation and a knowledge transfer session. The signed SOW commits the firm to all seven.
All contracts deployed to mainnet are independently audited before launch, with the external audit report and all resolved findings handed to you. Source code is verified on Etherscan or equivalent block explorer so any counterparty can confirm the deployed bytecode matches the audited source.
A step-by-step operational guide covering chain configuration, constructor parameters, admin key rotation, reserve feed wiring and the mainnet deployment sequence. Written so your internal team can operate and upgrade the system without Blockchain Factory on call for routine procedures.
A structured threat model documenting the attack surface of your token system: oracle manipulation vectors, admin key compromise scenarios, redemption replay risks and cross-chain bridge exposure. Used as input to the external audit and retained as a living document for Factory Care engagements.
For stablecoin and RWA platform engagements: a Chainlink Proof of Reserve feed wired to your custodian, a scheduled attestation contract that publishes backing on-chain on a defined cadence, and an API endpoint that exposes reserve and circulating supply figures to regulators and auditors in real time.
A documented REST API for issuance, redemption, allowlist management and reserve queries, plus a typed TypeScript SDK where the engagement scope includes a frontend or third-party integration. API versioned and backwards-compatible for the duration of the Factory Care retainer.
NatSpec contract documentation, an architecture decision record (ADR) log, integration guides for each connected protocol (Chainlink, Sumsub, Fireblocks, The Graph) and an operator handbook. Stored in your version-controlled repository, not a shared wiki that disappears when the engagement ends.
A structured handover session covering the contract architecture, key management procedures, the reserve pipeline and monitoring dashboard, plus a recorded walkthrough your team can replay. Factory Scale engagements include a full-day on-site (or virtual) training session with your engineers and compliance team.
First contact to a live discovery sprint takes under a week. Day one is a 45-minute scoping call ending in a written scope outline. Days two and three produce a fixed-price SOW with milestones and IP assignment. Days four and five provision the repository and introduce the squad.
A 45-minute call with Arnold Hilfiger or a senior architect. We map the asset class, the reserve and redemption model, the target chains and the compliance obligations. You leave with a written scope outline and a ballpark edition recommendation by end of day.
We turn the scope outline into a fixed-price SOW with defined milestones, IP assignment clauses and a delivery calendar. You own the IP and the source from day one: it is written into the SOW, not implied.
Repository provisioned in your org, environment setup guide shared, squad introduced. The Project Manager sends the sprint schedule and the first status-report cadence. The discovery sprint starts immediately; no idle time between signing and work.
By the end of week two you have a signed architecture document: token standard, chain selection, custody model, attestation cadence, compliance surface and an audit plan. This document is the build contract for the rest of the engagement and cannot be changed without a signed change order.
A template token mints quickly and leaves reserve proof, redemption, compliance, custody and multi-chain support undefined. An engineered system treats all of them as the product rather than as follow-up work. The table below sets the two paths against each other across seven factors, from reserve proof through security posture to cost.
| Factor | Engineered with Blockchain Factory | Template token |
|---|---|---|
| Reserve proof | On-chain attestation on a fixed cadence, independently verifiable | A PDF or a promise, off-chain and unverifiable |
| Redemption | Engineered redemption path, settled in seconds | Manual, undefined, often the failure point |
| Compliance | KYC, transfer rules and reporting built for MiCA-ready issuance | Bolted on later, if at all |
| Security posture | Independently audited, fuzzed and formally verified before mainnet | Inherits the template code and its attack surface |
| Custody | MPC or qualified custodian, no single hot key | Single deployer key holds the asset |
| Multi-chain | One compliance abstraction layer, new chains in 1 to 2 weeks | Locked to one chain |
| Cost | EUR 18,000 to 540,000 by edition, audit included | Cheap to mint, expensive when redemption breaks |
Best fit for engineered: regulated stablecoins, tokenized funds and bonds, anything that must prove its backing. Best fit for a template: testnet experiments with no real asset behind them.
Roughly 35 percent of inbound RFPs are declined. Tokenization is the wrong tool when an asset cannot be reliably attested off-chain, when a database already delivers the same settlement and transparency, when no legal counsel has classified the token or when the reserve holder refuses independent on-chain attestation.
We decline roughly 35 percent of RFPs. A token that cannot prove its reserve is a liability, not a product.
The risk is concrete. According to the Chainalysis 2024 Crypto Crime Report, USD 1.7 billion was stolen from DeFi protocols in 2023, and a recurring pattern in failed tokenized-asset projects is a redemption and reserve layer that was never engineered to the standard of the token contract itself.
Stack choices at Blockchain Factory are deliberate and auditable rather than fashionable. Solidity and Rust for contracts, Foundry and Halmos for testing and formal verification, Chainlink for oracle feeds, Sumsub for KYC and The Graph for indexing. Every tool listed below runs in production across 124 mainnet deployments.
Formal verification earns its line in that stack because it answers a question a test suite cannot answer at all.
Unlike regular testing, formal verification can conclusively prove the absence of errors in a smart contract.
No single chain suits every asset class. Settlement finality, compliance tooling and transaction cost each pull the decision in a different direction for RWA tokenization and regulated stablecoins. The table below maps four deployed architectures against those trade-offs. Chain choice is locked at the architecture stage, never retrofitted afterwards.
| Architecture | Best for | Settlement / finality | Compliance fit | Cost profile |
|---|---|---|---|---|
| Ethereum L1 | High-value regulated securities, sovereign bond tokenization, institutional DeFi | 12-second blocks, probabilistic finality; high liquidity and deepest tooling | ERC-3643/T-REX transfer restrictions, FATF Travel Rule messaging, Chainlink PoR; MiCA-ready patterns well established | Higher gas; justified for assets where settlement finality and custodian familiarity are paramount |
| EVM L2 (Arbitrum / Polygon PoS) | High-volume stablecoin payments, retail RWA, carbon credit markets, FinTech corridor rails | Sub-2-second on Polygon PoS; Arbitrum posts batches to Ethereum for L1 security | Identical ERC-20/ERC-3643 compliance logic as Ethereum, lower fee barrier for KYC-gated transfers; Chainlink feeds available | 5x to 50x lower gas than Ethereum L1; best balance of compliance tooling and operational cost for mid-market issuers |
| Non-EVM public chain (Stellar / Algorand) | Euro stablecoin corridors, remittance, CBDCs and low-denomination payment tokens | Stellar: 3-5 second deterministic finality; Algorand: 2.5-second finality, immediate irreversibility | Built-in asset controls (Stellar trustlines, Algorand ASA flags); FATF Travel Rule via native memo fields; lighter compliance overhead | Near-zero fees; suited to high-frequency, low-value transfers where EVM gas would consume a material share of transaction value |
| Permissioned appchain / subnet | Regulated fund tokenization, bank-issued instruments, government digital-asset pilots | Custom validator set; typically 1-2 second deterministic finality with operator-controlled participant set | Full control over validator whitelist, transaction filtering at consensus layer; no public mempool exposure; meets strictest institutional data-sovereignty needs | Higher infrastructure cost (dedicated validators); offset by regulatory and liability simplification for issuers under heavy supervision |
All four architectures are supported by Blockchain Factory through a single compliance abstraction layer. Chain choice is locked during the Architecture stage after reviewing the asset class, investor base and regulatory jurisdiction. A new chain typically adds 1 to 2 weeks to the build timeline.
For an issuer bringing a regulated token or euro stablecoin to the EU market, compliance is the primary engineering constraint rather than a review gate at the end. MiCA reserve segregation, redemption timing, on-chain KYC allowlists and transfer restrictions all land in the contract architecture before the first sprint.
Every euro stablecoin leaving this workshop is engineered against MiCA rather than checked against it afterwards. Its supervisor states the scope in one line.
The Markets in Crypto-Assets Regulation (MiCA) institutes uniform EU market rules for crypto-assets.
Both cases below are production deployments carrying live value, not whitepaper concepts. Aurelia Mint runs a euro stablecoin with EUR 420 million minted in year one and redemption settling under 8 seconds. Verdant Registry tokenized 2.4 million tonnes of carbon and cut audit time from six weeks to two days.
Three screens pulled from live client deployments, redrawn and anonymised under NDA so nothing identifies the client. They show issuance gated on a live reserve check at Aurelia Mint, on-chain credit retirement at Verdant Registry and a cross-border stablecoin payout corridor at Linna Pay.
Four editions cover the whole path. Factory Start is a EUR 18,000 fixed-price proof of concept over three weeks. Factory Build runs EUR 60,000 to 180,000 for a production token system. Factory Scale runs EUR 200,000 to 540,000 for a regulated platform, and Factory Care maintains it from EUR 7,900 monthly.
A tokenization proof of concept on testnet with a working reserve and redemption model.
Get startedA production token system or dApp, audited, deployed and monitored across your chosen chains.
Get startedA regulated stablecoin or RWA platform with attestation, compliance and custody integration.
Get startedContinuous monitoring, recurring audits, reserve-pipeline upkeep and on-call incident response.
Get startedEvery edition carries a fixed price, but which edition applies turns on six drivers: asset class and scope, chain selection, audit depth, integration surface, delivery timeline and MiCA compliance scope. Knowing which of the six bite on a given project turns a first call into real scoping rather than guesswork.
A euro stablecoin with a single reserve is simpler than a multi-tranche bond with partial redemption windows. Wider asset scope moves a project from Factory Build toward Factory Scale.
Ethereum mainnet gas optimisation and formal verification add to Factory Build cost. Stellar and Algorand deployments run lighter. Cross-chain issuance on three or more networks adds 2 to 4 weeks.
A Foundry fuzz suite and Slither pass is included in every edition. Halmos formal verification and a full external audit are standard at Factory Scale and optional at Factory Build. Each additional audit cycle adds approximately EUR 12,000 to 25,000.
A self-contained token contract with a single custodian is the baseline. Adding a Chainlink Proof of Reserve feed, a Sumsub KYC pipeline, a Fireblocks MPC wallet and a custom redemption portal each extends the scope. Every integration is priced line by line in the SOW.
Stablecoins targeting EU e-money qualification require reserve architecture review, legal counsel coordination and an ISAE 3402 controls framework. This adds a compliance engineering track that typically runs 6 to 8 weeks in parallel with build.
A 6-week token system at Factory Build pace costs less than the same scope accelerated to 3 weeks with a larger squad. We do not pad timelines, but compression always costs more. Pressing a Factory Scale to 4 months adds roughly 30 percent.
Blockchain Factory prices by edition rather than by the hour. A fixed price against a signed SOW removes the two largest sources of friction in a token build: scope creep and surprise invoices. The table below sets each edition against its cost model, its timeline and the stage it fits.
| Edition | Price (EUR) | Cost model | Typical timeline | Best for |
|---|---|---|---|---|
| Factory Start | 18,000 fixed | Fixed scope | 3 weeks | Tokenization proof of concept: working reserve and redemption model on testnet, investor-ready |
| Factory Build | 60,000 to 180,000 | Fixed scope | 6 to 12 weeks | Production token system or dApp: audited ERC-20/ERC-3643 contract, issuance dashboard, redemption interface |
| Factory Scale | 200,000 to 540,000 | Dedicated team | 5 to 10 months | Regulated stablecoin or RWA platform with MiCA compliance, ISAE 3402 controls, Chainlink PoR and custody integration |
| Factory Care | from 7,900/month | Sustain retainer | Ongoing | Continuous monitoring, recurring smart contract audits, reserve-pipeline upkeep and on-call incident response |
All editions include audit costs and a signed SOW. Editions are not estimates; they are fixed-price commitments. Factory Scale, the regulated-stablecoin edition, is engineered toward one fixed target: redemption under 8 seconds, confirmed once chain choice and custody are locked at the Architecture stage rather than promised as a contractual latency warranty. Request a scope outline
Eight deliverables below carry a Blockchain Factory price in EUR next to a publicly published market range in USD for the same work, so the figure can be checked rather than taken on trust. The two currencies sit side by side for context and are deliberately not converted into each other.
| Deliverable | Our fixed price (EUR) | Typical market range (USD) | What the fixed price covers |
|---|---|---|---|
| Smart contract audit, single contract | Approximately EUR 12,000 to 25,000 per extra audit cycle; first pass included in every edition | $5,000-$250,000 overall market range (Sherlock) | Bundled into every edition's fixed price, only an additional cycle billed on top |
| Custom dApp MVP build | EUR 18,000, Factory Start | $5,000-$20,000+ (Cleveroad) | Working reserve and redemption model on testnet, not a bare token contract |
| Token issuance and standards work (ERC-20 / 721 / 1155 class) | EUR 60,000 to 180,000, Factory Build | $20,000-$80,000 (Reown) | Audited, deployed and monitored as part of Factory Build, not a separate line item |
| Cross-chain integration | EUR 60,000 to 180,000, Factory Build; three or more chains add 2 to 4 weeks | $30,000-$120,000 (Reown) | One compliance abstraction layer across eight networks, priced inside Factory Build |
| DeFi protocol build | From EUR 60,000, Factory Build | $40,000-$100,000 simple · $200,000-$500,000+ complex (Alchemy) | Built, audited and monitored as part of Factory Build, not a scoped estimate |
| Blockchain architecture and discovery engagement | Fixed fee, no separate published figure; the scoping call itself is free | $5,000-$20,000 (Reown) | Two weeks at a fixed fee, ending in a signed architecture document |
| Node and infrastructure setup | No separate published figure, priced line by line in the SOW | $2,000-$5,000+ public chain · $10,000-$30,000+ private chain (Cleveroad) | Each integration item billed transparently in the signed SOW, not a blended hourly rate |
| Ongoing maintenance / sustain retainer, monthly | From EUR 7,900 per month, Factory Care | $5,000-$15,000/month updates · $2,000-$5,000/month monitoring (Alchemy) | Continuous monitoring, recurring audits and on-call incident response bundled into one retainer |
These eight ranges trace to four published sources, Sherlock, Cleveroad, Reown and Alchemy, checked directly on . Figures keep the currency each source publishes: EUR for our price, USD for the market range. Neither column is converted into the other.
A blockchain development company that cannot state its risk posture is itself a risk. Six commitments hold on every Blockchain Factory engagement: a free scoping call, client ownership of IP and source, an external-audit-pass commitment, no vendor lock-in, a defined exit and handover and a fixed price rather than an estimate.
The initial scope call costs you nothing. The two-week Discovery sprint is priced as a fixed fee and produces a signed architecture document. If we cannot agree on scope after discovery, you keep the document and owe nothing more.
Full intellectual property assignment transfers to you on final delivery. All contracts, scripts, documentation and tooling are yours from signature. We retain no licence over the delivered work. This is in the SOW, not subject to interpretation.
Every mainnet deployment is independently audited before launch. If the external audit finds a critical or high-severity finding that was not disclosed to you during build, we resolve it at our cost before the engagement closes. Our track record: zero critical findings across all 124 mainnet deployments.
Contracts use open, audited standards (ERC-20, ERC-3643, ERC-1400). Dependencies are documented and replaceable. The compliance abstraction layer is designed so you can replace any integration point (custodian, KYC provider, oracle) without redeploying the core token contract. Your system is yours to operate independently.
Every engagement closes with a structured handover: repository transferred to your org, admin keys rotated to your custody, documentation complete and a knowledge-transfer session delivered. If you do not renew a Factory Care retainer, you receive a full off-boarding package at no additional cost.
Factory editions are fixed-price commitments backed by a signed SOW. Scope changes require a signed change order before work begins; we do not bill retroactively for scope that was not in the original SOW. The single most common complaint about blockchain development shops is unpredictable cost. We remove it by design.
Choosing an engineering partner for a regulated token or stablecoin is a high-stakes decision made largely on claims. Six questions below separate firms with production depth from firms with a good deck, covering mainnet evidence, category fit, reserve engineering, MiCA readiness, pricing model and post-launch support.
Production smart contracts attract scrutiny that testnets never will. Ask for on-chain deployment receipts and the names of the external audit firms that reviewed the contracts before launch. Blockchain Factory has 124 mainnet deployments, every one independently audited, with zero critical findings in production.
Asset tokenization, regulated stablecoin engineering and DeFi development each require different expertise: token standards (ERC-20 vs ERC-3643 vs ERC-1400), compliance layers, reserve architecture and custody models are not interchangeable. Ask for case studies in your category, not a generic portfolio.
Blockchain Factory Research Note BF-2026-01 found that 58 percent of failed tokenization projects failed at the reserve-attestation and redemption layer, not the token contract. A credible firm engineers the full stack. Ask how the reserve is proved on-chain and what happens when a holder redeems at scale.
If you are issuing a stablecoin or security token in the EU, your engineering partner must understand MiCA obligations for reserve segregation, redemption timing and disclosure. On-chain KYC allowlists and transfer restrictions must be built into the contract architecture, not retrofitted at compliance review. Blockchain Factory holds MiCA-readiness attestation BF-MICA-2026-014.
Time-and-materials contracts shift all scope risk to the buyer. A blockchain development company that prices by edition, with a signed SOW and fixed deliverables, gives you cost certainty. Factory Build and Factory Scale are both fixed-price with clear milestones. The single most common complaint about development shops is unpredictable cost.
A token in production needs continuous monitoring, reserve-pipeline upkeep and a documented incident runbook. Factory Care retainers cover all of this from EUR 7,900 per month. Ask whether on-call is genuinely available and what the response SLA is for a reserve discrepancy or a contract exploit.
| Sourcing model | Cost profile | Time to first line of code | External audit access | Bus factor | Retention risk |
|---|---|---|---|---|---|
| In-house team | Salaries and equity run whether or not a build is in flight, and the audit arrives as a separate invoice. | Starts only once an architect and a contract engineer have both been hired and served notice. | You source the firm, book the slot and own closing every finding. | Concentrated. The reserve and redemption design usually sits with one senior engineer. | Yours entirely. A departure mid-build stops the build. |
| Specialist agency | One fixed price per engagement with the audit cost inside it and nothing carried between projects. | Days. The squad already exists, so the delay is contractual rather than a hiring cycle. | The firm holds the audit relationship and runs the audit in parallel with the build. | Spread across a named squad, so one departure does not take the architecture with it. | Carried by the firm. Staffing the squad for the length of the SOW is its obligation, not yours. |
| Freelance contractors | Lowest day rate and the least predictable total, because every scope change is billed as it arrives. | Quick to start and slow to align, since each contractor is sourced and briefed separately. | You arrange it, and the engagement usually ends before the finding-resolution cycle does. | Lowest. What was decided and why stays in individual heads. | Highest. Nothing contractual holds a contractor through to mainnet. |
Blockchain Factory is the middle column: a squad of 47 engineers across 7 disciplines, fixed prices from EUR 18,000 to EUR 540,000 with the external audit inside the price and a discovery sprint that starts within 5 working days of first contact.
Billing on a fixed-scope edition tracks the same four stages the delivery path already sets out. What follows describes the typical structure of that billing. The document that actually fixes deliverables, milestones, payment terms and IP assignment for a given engagement is the signed Statement of Work named in the terms of service.
Discovery, Architecture, Build and audit, Issue and sustain: how we work already names these four as one path every engagement travels. A stage's own written outcome, not a date on the calendar or an hours log, is what opens the invoice for it. How many of those invoices a given edition carries follows its own scope: Factory Build and Factory Scale price as a range and settle stage by stage, while Factory Start prices as one fixed sum, EUR 18,000 for the whole three-week engagement. Factory Care sits outside this pattern entirely: once issue and sustain hands off into the retainer, it is billed monthly, not by stage.
Every edition above is priced and invoiced in euro. Nothing about invoice timing gets decided after the fact: the delivery calendar written into the signed SOW fixes each stage's due date before that stage begins. A scope change is priced and signed off before that work starts, and nothing outside the original SOW gets billed after the fact. This invoicing structure is typical practice, not a binding offer: the signed SOW is what actually governs your engagement.
The engagement's start already carries a guarantee: if we cannot agree on scope after the initial two-week engagement, you keep the scope and architecture work produced and owe nothing further. That stage-by-stage billing, where it applies, typically extends the same protection through every later stage: tell us before the next one starts, and since only accepted stages are ever invoiced, a stage boundary is also a billing boundary, so the invoicing stops exactly where you do. A Factory Care retainer that is not renewed still closes with a full off-boarding package at no extra cost, the same handover every engagement gets at close. The exact exit terms for your engagement are the ones written into your SOW.
The custom blockchain development market reached USD 17.5 billion in 2023 and is projected to grow at 87.7 percent CAGR through 2030 per Grand View Research, with real world asset tokenization and stablecoin rails as the leading growth vectors. The figures below set Blockchain Factory's own footprint against that market.
Source: Blockchain Factory internal delivery registry. Deployment counts verified against on-chain receipts. Review counts as reported by Clutch and G2 as of .
Arnold Hilfiger founded Blockchain Factory in 2019, carrying Estonian digital-government engineering discipline into tokenization and regulated stablecoin infrastructure. Prior work includes core engineering on the Estonian X-Road data exchange from 2012 to 2016 and payments engineering at a Baltic neobank in the three years before the company was founded.
Founder and CEO
I learned engineering inside Estonia's digital state, where a public service either works for every citizen or it does not ship. I brought that standard to tokenization. My team and I have put 124 contracts on mainnet, every one independently audited, with no funds ever lost to our code. We treat the reserve and the redemption as seriously as the token. When clients ask how to build a blockchain platform that actually proves its backing, we start with the audit trail, not the branding deck.
Blockchain Factory started after a 2020 project where a client's tokenized fund passed its contract audit cleanly, then nearly failed at launch because no one had engineered how holders would actually redeem. The token was perfect. The redemption was a spreadsheet. We rebuilt it over six weeks, and "prove the reserve, engineer the redemption" has been the first line of every proposal since.
Read the foundational paper: "Tokenizing Real-World Assets: Reserves, Redemption and On-Chain Proof" by Arnold Hilfiger. Blockchain Factory Research Note BF-2026-01, 31 pages.
Arnold Hilfiger: founder profile ↗
Ask the founder a questionResearch Note BF-2026-01 analysed 39 tokenization projects delivered between 2020 and 2025, separating each into a token-contract layer and a reserve-and-redemption layer. Across the dataset, 58 percent of failed projects broke at the reserve and redemption layer rather than in the token contract, even after a clean audit.
This note examines why tokenization projects succeed or fail in production. We analyse 39 tokenization projects between 2020 and 2025, separating each into a token-contract layer and a reserve-and-redemption layer. Across the dataset, 58 percent of failed projects failed at the reserve-attestation and redemption layer rather than in the token contract, even when the contract had passed audit. We present a reference on chain architecture for proof-of-reserve and engineered redemption, and quantify its effect across two production deployments. The study draws on blockchain data indexing from on-chain receipts and blockchain analytics sourced from our internal delivery registry.
Available on request to qualified parties under NDA. Request the full PDF
BF-2026-01 reads the failure from the delivery side. Central bank researchers describe the same dependency from the monetary side, where what a tokenised claim is worth turns on where its settlement asset sits.
The full potential of tokenisation is therefore best harnessed by having central bank money reside on the same venue as other tokenised claims.
2026 is the first production cycle in which machine learning and on-chain asset infrastructure overlap in ways that matter to RWA tokenization and stablecoin rails. Four intersections are under active engineering at Blockchain Factory, and each is described below in terms of what ships rather than what is speculated.
Machine learning models monitor reserve pipeline outputs and net asset value feeds in real time, flagging deviations before the on-chain attestation publishes. For the Aurelia Mint stablecoin, this layer catches reserve pipeline anomalies within minutes rather than waiting for the monthly publication cycle. The system learns expected cadences and raises alerts when custody or pricing feeds deviate from modelled behaviour.
On-chain transfer monitoring uses gradient-boosted models trained on FATF-aligned transaction patterns to produce a risk score for each transfer before it settles. High-risk transfers trigger a compliance hold at the contract layer, buying the compliance team time to review. This replaces the batch-mode risk reporting that most token systems still use and aligns with FATF Travel Rule expectations for near-real-time monitoring.
Real-world asset tokenization depends on reliable, manipulation-resistant price feeds for the underlying: bond yields, commodity spot prices and real estate indices. We integrate Chainlink Data Feeds augmented with ML-based outlier detection so that a single manipulated price source does not flow into the on-chain NAV unchallenged. The oracle layer cross-validates multiple sources and quarantines outliers before they reach the reserve attestation contract.
Production token systems emit thousands of on-chain events per day. An unsupervised anomaly detection layer watches event streams from our deployed contracts and flags unusual patterns: minting bursts outside business hours, redemption spikes from unfamiliar wallet clusters, governance proposals submitted with atypical vote cadences. The system feeds our Factory Care on-call workflow and reduces mean time to detection for a security incident from hours to minutes.
A firm that only writes contracts delivers half a system. Every regulated token or stablecoin Blockchain Factory ships is wired into four production protocols: Chainlink for oracle data, The Graph for indexing, Fireblocks for custody and Sumsub for KYC. Those integrations are what make a token trustworthy in operation.
Oracle network for price feeds and Proof of Reserve
We use Chainlink Data Feeds to supply audited price data to NAV calculations in tokenized fund contracts and Chainlink Proof of Reserve to publish on-chain attestations that the custodian’s fiat balance matches circulating token supply. The PoR feed is the backbone of every MiCA-ready stablecoin reserve architecture we build.
Subgraph indexing for on-chain analytics
We deploy custom subgraphs that index token issuance, transfer, redemption and retirement events so auditors, regulators and issuers can query the full on-chain record in real time. The Verdant Registry carbon-credit case study cut audit time from 6 weeks to 2 days because the auditor queried the subgraph directly instead of requesting spreadsheet exports.
MPC custody for issuance and redemption
Fireblocks MPC wallets remove the single-hot-key risk from every issuance and redemption operation. We integrate the Fireblocks API with our issuance contracts so that no single party can unilaterally mint or burn tokens: a quorum of co-signers is required for every governance action. This is the standard custody model for all Factory Scale stablecoin and RWA platform engagements.
KYC and AML onboarding
We integrate Sumsub’s identity verification API to push KYC outcomes directly to our on-chain allowlist contracts. A wallet is added to the transfer allowlist only after a verified Sumsub check returns approved. This means compliance is enforced at the contract layer, not just at the portal, so no transfer can occur outside the AML-cleared set of addresses regardless of how the token is accessed.
Blockchain Factory holds 4.9 out of 5 on Clutch from 35 verified reviews and 4.8 out of 5 on G2 from 21 reviews. Both platforms calculate and publish those scores independently of the company. The figures were last confirmed in and the five reviews below are dated individually.
Clutch and G2 calculate and publish these scores on their own platforms, independent of Blockchain Factory. The figures above were last confirmed in .
Ingrid Sokk
CEO at Aurelia Mint
Blockchain Factory built our euro stablecoin so the reserve proves itself on-chain every month. We minted 420 million euro in year one, redemption settles under 8 seconds and we have had zero reserve discrepancies. They engineered the parts other vendors hand-wave.
€420M minted, redemption under 8sMathias Lindqvist
Head of Product at Verdant Registry
We tokenized 2.4 million tonnes of carbon and on-chain retirement killed double-counting for good. Audit time dropped from 6 weeks to 2 days because auditors verify the registry directly.
2.4M tonnes, audit 6 weeks to 2 daysPriit Kask
CTO at Linna Pay
Our payment corridor settles on a stablecoin rail with compliance built into the contract. Fees fell 58 percent versus our legacy provider and every transfer is auditable on-chain.
Settlement fees down 58%Daniela Rossi
Founder at Olivetti Bonds
They tokenized our bond issuance with T+0 settlement and a clean compliance model. Investors see the same on-chain state we do. It changed how our desk thinks about settlement.
Tokenized bonds, T+0 settlementKwame Mensah
Director of Engineering at Sankofa Remit
Blockchain Factory built our stablecoin remittance corridor with payout under 30 seconds and KYC enforced on-chain. They told us plainly which features did not need a blockchain, which we respected.
Stablecoin corridor, payout under 30sEvery certification listed carries a certificate number and a named issuing body, so each can be checked at source rather than accepted from a logo. Blockchain Factory holds ISO/IEC 27001:2022 through Bureau Veritas, an ISAE 3402 Type II report and MiCA-readiness attestation BF-MICA-2026-014.
Certificate BF-ISO-2026-2207
Issued by Bureau Veritas · valid through
Report BF-3402-2026
Controls over tokenization and reserve attestation · available to procurement teams under NDA
Every page on blockchain-development-company.site is owned by a named author and reviewed at least once per quarter. We keep one internal ledger of delivery records, and every statistic, price and timeline on this page is checked against that ledger's most recently closed quarter before publication.
Sources of truth:
Corrections: if you find an error, email editorial@blockchain-development-company.site with the URL, the line and the correction. Every correction we accept lands in the Update log above with a date stamp, and you will hear back from us confirming it within one business day.
Independence: Blockchain Factory has no paid sponsorships on this page. When we name a tool such as Slither, Mythril, Foundry or Halmos, it is because we actually run it in production, not because anyone paid for the mention.
Last updated:
This page is operated by Blockchain Factory OÜ, Maakri 19/1, 10145 Tallinn, Estonia, VAT EE102558417.
What we collect:
Your rights under GDPR: you may access your data, have it corrected, have it erased, receive a portable copy, restrict how we use it or object to that use outright. To exercise any right, email privacy@blockchain-development-company.site. Article 12 of GDPR caps our response time at 30 days, and that is the outside limit we hold ourselves to, not the target.
Cookies: none. We do not drop a tracker, a fingerprint or a session ID into your browser either.
International transfers: our servers are located in the EU. Your data does not leave the EU unless you explicitly engage us for a project that requires non-EU processing, under Standard Contractual Clauses.
Data Protection Officer: Liis Saaremae, dpo@blockchain-development-company.site
Last updated:
By accessing blockchain-development-company.site you agree to these terms. The page is provided as marketing information about Blockchain Factory services.
1. No advice. Nothing on this page is legal counsel, financial advice, investment advice, a securities opinion or tax guidance. Blockchain Factory builds blockchain software. We will not tell you whether a given token counts as a security in any jurisdiction, how crypto assets should be taxed or whether you are compliant with regulation beyond what our signed engagement covers.
2. Scope of services. Engagements with Blockchain Factory are governed by a separate signed Statement of Work that defines deliverables, milestones, payment terms, IP assignment and warranties. The edition prices and timelines on this page are indicative ranges from prior projects, not binding offers.
3. Smart contract and tokenization risk. Tokenized assets and smart contracts deployed at client direction carry inherent risk including code-level vulnerabilities, reserve and redemption failures, oracle manipulation, governance attacks, third-party dependency failures and chain reorgs. Blockchain Factory warrants delivery of audited code per the SOW, not the absence of all possible risk.
4. Intellectual property. Page content (text, SVG illustrations, structure) is © 2019-2026 Blockchain Factory OÜ. The Blockchain Factory name and modular mark are unregistered trademarks. Credit us and you are welcome to reuse it for non-commercial commentary or journalism.
5. Limitation of liability. To the maximum extent permitted by applicable law, Blockchain Factory is not liable for indirect, incidental, special or consequential damages arising from your use of this page or any content linked from it.
6. Governing law. Estonian law. Exclusive venue: Harju County Court, Tallinn, Estonia.
ISO/IEC 27001:2022: Information security management
ISAE 3402 Type II
Regulatory and assessment
To request copies of any certificate or the ISAE 3402 report, email security@blockchain-development-company.site from a corporate domain.
Twelve questions below cover what buyers ask most often before a regulated token or stablecoin engagement: what the work involves, what it costs, how to choose a partner, which chains are supported, how audits run, how pricing is structured, how long a build takes and how MiCA applies.
A blockchain development company designs and builds software that runs on distributed ledger networks. This includes smart contracts that govern token issuance and transfer, tokenization platforms that represent real-world assets on-chain, DeFi protocols, dApps and the compliance and custody infrastructure that makes those systems production-ready.
Blockchain Factory specialises in the tokenization and stablecoin segment, where the engineering challenge extends beyond the token contract to the reserve attestation and redemption layer.
Blockchain Factory's blockchain engineering team handles smart contract development, blockchain backend development, on-chain compliance and the reserve pipeline as a single integrated system.
Cost varies by scope. A tokenization proof of concept runs from EUR 18,000 fixed (Factory Start, 3 weeks). A production token system or dApp costs EUR 60,000 to 180,000 (Factory Build).
A regulated stablecoin or RWA platform with attestation, compliance and custody integration costs EUR 200,000 to 540,000 (Factory Scale). Ongoing monitoring and audit retainers start from EUR 7,900 per month (Factory Care).
All editions include audit costs. These are not estimates: every Factory Build is a fixed-price Web3 product development engagement with a signed SOW.
Look for independently audited mainnet deployments, not just whitepaper experience. Check that the team has built the specific system type you need: tokenization, stablecoins, DeFi and dApps each require different expertise.
Verify that the company's audit reports exist and are from recognised third-party firms. Ask how the team handles reserve attestation and redemption engineering, not just the token contract.
A capable blockchain technology partner publishes its certification numbers and links to verified review profiles. Blockchain Factory does exactly that: Clutch, G2 and certificate numbers are all on this page.
Real world asset tokenization represents an off-chain asset, a euro reserve, a bond, a tonne of carbon, as a token whose issuance, transfer and redemption are governed by audited smart contracts. The hard part is not the token, it is proving the reserve and settling redemption.
We engineer the attestation and redemption layer with the same rigour as the contract. On Aurelia Mint, our production euro stablecoin, that engineering keeps redemption under 8 seconds. It is the number holders notice, not the token standard underneath it.
Our token system development work always includes the custody model, the compliance abstraction layer and the on-chain analytics feed.
Blockchain Factory supports Ethereum, Polygon PoS, Avalanche, Stellar, Algorand, Gnosis Chain, Celo and Near. Our cross chain development uses a single compliance abstraction layer so a new chain goes live in 1 to 2 weeks.
We choose chains for settlement finality, compliance tooling and cost rather than hype.
Multi chain integration is scoped at the architecture stage, not as a retrofit.
Yes. We run Slither, Mythril, Foundry testing and Halmos in CI plus manual review, and every one of our 124 mainnet deployments was independently audited before launch.
Smart contract security is built in from the first sprint: we use threat modeling, Foundry fuzzing and formal verification, then coordinate the external audit in parallel with the final integration sprint.
There are zero critical findings in production and no funds have been lost to a Blockchain Factory contract.
We price as fixed editions. Factory Start runs from EUR 18,000 for a tokenization proof of concept (3 weeks) and Factory Build costs EUR 60,000 to 180,000 for a production token system or dApp.
Factory Scale costs EUR 200,000 to 540,000 for a regulated stablecoin or RWA platform and Factory Care starts from EUR 7,900 per month for monitoring, audits and on-call.
This is blockchain product development services with predictable cost: no hourly burn, no scope creep billing.
Blockchain technical discovery takes 2 weeks. A token system takes 6 to 12 weeks.
A regulated stablecoin or RWA platform takes 5 to 10 months including the external audit cycle.
The audit cycle is never a surprise because smart contract CI CD flags issues in every sprint, not at the end.
We decline roughly 35 percent of RFPs.
We say no when tokenization adds no settlement or transparency benefit over a database, when an asset cannot be reliably attested off-chain and when a token launch lacks legal counsel on securities classification under MiCA or local law.
We also decline when a prospective client wants to build a crypto wallet or DeFi platform without any blockchain security review in scope.
For permissioned security tokens and real-world asset tokenization we use ERC-3643 (the T-REX standard) and ERC-1400, both of which embed transfer restrictions and compliance rules at the contract level rather than at the portal.
For fungible stablecoins the baseline is ERC-20 with a custom compliance abstraction layer that adds KYC allowlisting and MiCA-aligned redemption logic.
We choose the standard at the architecture stage based on the asset class, the investor base and the regulatory jurisdiction.
Our compliance abstraction layer pushes KYC outcomes from Sumsub directly to an on-chain allowlist. A wallet address is added to the transferable set only after the identity check returns approved.
Transfer-restriction contracts then enforce the allowlist on every token movement, regardless of whether the transfer originates from our issuance portal or from an external wallet.
Because the allowlist check lives in the contract itself, compliance is a contract property, not a portal policy. It cannot be bypassed by interacting with the contract directly.
The EU Markets in Crypto-Assets regulation sets binding requirements for stablecoin issuers and crypto-asset service providers operating in or targeting the European Union. It defines reserve segregation, redemption timing, disclosure and authorisation requirements for e-money tokens and asset-referenced tokens.
If you are issuing a euro stablecoin or any token backed by a fiat reserve and targeting EU holders, MiCA applies.
Blockchain Factory holds MiCA-readiness attestation BF-MICA-2026-014 and engineers stablecoin systems to MiCA-compliant reserve and redemption standards from the architecture stage.
A scoping call with Blockchain Factory runs 45 minutes and ends with a written scope outline and an edition recommendation, at no cost and with no obligation. The Tallinn office takes enquiries by email, and a signed SOW can follow within three working days.
Tell us about the asset you want to tokenize. Expect a reply inside one business day.
Share a brief description of your project in an email and we will send back a scope outline and ballpark within one business day.