Square’s Jack Dorsey Plans to Build Decentralized Bitcoin Exchange

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Dorsey Plans to Build Decentralized Bitcoin Exchange

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.

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• 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.

Square’s Jack Dorsey Plans to Build Decentralized Bitcoin Exchange

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