Paxful Co-Founder To Reopen P2p Crypto Trading
Ray Youssef, co-founder of Paxful, has ambitious intentions to relaunch peer-to-peer trading after his company went bankrupt earlier this year. And it will not be available in the United States.
Civ Kit, his new venture, is a “blueprint for developers and entrepreneurs to build their own censorship-resistant and permissionless global marketplace.”
It’s what Youssef refers to as a “unstoppable marketplace” that will allow anybody, anywhere to trade utilising the Lightning Network and Nostr, a system that allows for decentralised social media.
“We want everyone to be trading with everyone. We want someone in Venezuela trading with someone in Russia,” Youssef said on a recent podcast with The Block’s Frank Chaparro. “No barriers, no permission required.
The endeavor comes on the heels of the implosion of Paxful, which he founded in 2015 with Artur Shaback, who is now suing Youssef. In the face of legal uncertainty in the U.S. — though nothing imminent — Paxful had decided in November to dissolve the company — a “nice, tidy dissolving,” Youssef said.
(With inputs from Shikha Singh)
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