Square and Twitter CEO Jack Dorsey, tweeted on Friday that TBD, installment goliath Square’s new division centered around making an open developer platform, is wanting to assemble a decentralized bitcoin exchange.
• “Help us build an open platform to create a decentralized exchange for #Bitcoin,” Dorsey tweeted.
• Mike Brock, who was named to lead the drive, tweeted independently that “this is the problem we’re going to solve: make it easy to fund a non-custodial wallet anywhere in the world through a platform to build on- and off-ramps into Bitcoin. You can think about this as a decentralize[d] exchange for fiat.”
• “We’d love for this to be Bitcoin-native, top to bottom,” Brock composed. He additionally noticed that the platform would “be entirely developed in public, open-source, open-protocol,” and that any wallet would have the option to utilize it.
• Brock noted “gaps around cost and scalability,” and that TBD required “a solve for exchange infrastructure between digital assets, like stablecoins.”
• In July, Dorsey wrote in a progression of tweets that Square would dispatch the new business to make it simpler to offer non-custodial, decentralized monetary administrations.