Digital Assets: Jack Dorsey’s TBD Ties With Paxful’s Ray Youssef For Bitcoin P2P Marketplace

May 8, 2023 | Digital Assets, News

Ray Youssef’s P2P bitcoin marketplace, Paxful, was popular in countries such as Nigeria and Kenya.

Jack Dorsey’s crypto company TBD and Paxful co-founder Ray Youssef are partnering to launch a decentralized P2P crypto trading platform called Civilization Kit (Civ Kit). It aims to create a network of non-custodial bitcoin marketplaces using decentralized identity technology developed by TBD.

Civ Kit will be built on Nostr, a decentralized network protocol for social networking systems. (CryptoNews)

This launch comes after Youssef’s P2P bitcoin marketplace, Paxful, downed shutters due to disputes between Youssef and co-founder Artur Schaback, as well as regulatory pressures.

Users of Paxful have been advised to transfer their funds to non-custodial wallets or alternative platforms, such as the recently established Noones P2P bitcoin marketplace. The latter provides comparable services to Paxful, such as wallet, listing service, marketplace, and escrow. Moreover, Lightning Network functionality is expected to be added to its offerings in the coming weeks.

However, Civ Kit intends to go beyond Noones and Paxful – it intends to empower anyone to construct a Bitcoin-based decentralized marketplace on its ecosystem.

Related Story:  Block’s Q1 Numbers, Powered By Cash App, Beat Estimates

Image by Julien Tromeur from Pixabay

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