Share this article
Square’s Jack Dorsey Plans to Build Decentralized Bitcoin Exchange
The Square and Twitter CEO first announced plans to create an “open developer platform” in July.
By James Rubin
Updated May 9, 2023, 3:23 a.m. Published Aug 27, 2021, 7:46 p.m.
Square and Twitter CEO Jack Dorsey, tweeted on Friday that TBD, payment giant Square’s new division focused on creating an open developer platform, is planning to build a decentralized bitcoin exchange.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- “Help us build an open platform to create a decentralized exchange for #Bitcoin,” Dorsey tweeted.
- Mike Brock, who was named to lead the initiative, tweeted separately 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 wrote. He also noted that the platform would “be entirely developed in public, open-source, open-protocol,” and that any wallet would be able to use it.
- Brock noted “gaps around cost and scalability,” and that TBD needed “a solve for exchange infrastructure between digital assets, like stablecoins.”
- In July, Dorsey wrote in a series of tweets that Square would launch the new business to make it easier to offer non-custodial, decentralized financial services.
We’ve determined @TDB54566975’s direction: help us build an open platform to create a decentralized exchange for #Bitcoin https://t.co/jHYWHy1qmu
— jack (@jack) August 27, 2021
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bhutan Debuts TER Gold-Backed Token on Solana
The Himalayan kingdom introduced TER, a Solana-based token backed by physical gold and issued through Gelephu Mindfulness City.
What to know:
- Bhutan introduced TER, a sovereign-supported gold-backed token issued via Gelephu Mindfulness City and custodied by DK Bank, offering a blockchain-based representation of physical gold.
- The token runs on Solana, giving international investors digital portability and on-chain transparency while mimicking the experience of traditional gold purchases.
- TER follows Kyrgyzstan’s USDKG launch, highlighting a growing trend of smaller nations issuing asset-backed digital currencies tied to audited reserves as part of broader economic and technological strategies.
Top Stories
