Square and Twitter CEO, Jack Dorsey plans to build decentralized Bitcoin exchange – Nairametrics

Jack Dorsey, the CEO of Square and Twitter, tweeted on Friday that his payment company, Square’s new division, which is focused on creating an open developer platform, is planning to build a decentralized Bitcoin exchange. “TBD54566975” would be focused on building a decentralized exchange for Bitcoin (BTC). “We’ve determined @ TBD54566975’s direction: help us build an open platform to create a decentralized exchange for #Bitcoin,” Dorsey stated in the tweet. According to the project leader, Mike Brock, “TBD,” which is an unnamed unit of Square, is aiming to “make it easy to fund a non-custodial wallet anywhere in the world through a platform to build on- and off-ramps into Bitcoin.” The business said it wants the decentralized exchange to be “Bitcoin-native, top to bottom,” as well as completely open-source and permissionless, with “no foundation or governance model that TBD controls.” Brock further added, “Our idea for the fiat DEX is something the end-user shouldn’t even need to know is there, and any wallet or service can integrate with.” He also said that the exchange would be following Anti-Money Laundering and Know Your Customer laws. Bottomline In July, Dorsey announced in a series of tweets that Square would launch a new…
Read More