In a Friday tweet, Square and Twitter CEO Jack Dorsey said TBD, Square’s Bitcoin business unit, plans to develop a decentralized Bitcoin exchange.
The tweet reads: “Help us build an open platform to create a decentralized exchange for #Bitcoin.”
Square’s new bitcoin division was first announced in July, with Dorsey unveiling that the payment company was developing a “non-custodial, permissionless, and decentralized financial services” business focusing on Bitcoin.
Regarding the latest plans, project leader Mike Brock tweeted in a separate post:
Brock added that they would love for this decentralized exchange to be “Bitcoin-native, top to bottom,” noting that the platform would be entirely open-source and permissionless and there would be “no foundation or governance model that TBD controls.”
The project leader also wrote that any wallet or service would be able to use it and that the exchange would comply with KYC and Anti-Money Laundering laws.