The CEO of Twitter is launching a decentralized Bitcoin exchange.

Square's cryptocurrency unit is launching a Bitcoin DEX, according to Twitter CEO Jack Dorsey. TBD, Square's newly created cryptocurrency and decentralized arm, is launching a decentralized Bitcoin exchange.

The method of purchasing the flagship cryptocurrencies, according to Mike Brock, the division's leader, utilizes centralized and custodial services such as Coinbase.  TBD seeks to create a Bitcoin-native permissionless open-source exchange.

Brock does mention, though, that the unit will investigate alternative blockchains to operate as a bridge.

The primary concerns that TBD is now attempting to resolve are cost and scalability:

In mid-July, Dorsey announced the launch of Square's cryptocurrency unit.

Ethereum co-founder Vitalik Buterin criticized his entry into DeFi, questioning the project's decentralization: "Jack is basically going to have to design his own system that implements those regulations.


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