- TBD, led by Jack Dorsey, debuts SDKs for its tbDEX platform at Web Summit Rio.
- Partners with Bankaya and Conduit to integrate local and international payment systems.
- Focuses on decentralized IDs and credentials to bolster financial inclusion and transaction security.
At the Web Summit Rio, TBD, a branch of Block Inc. co-founded by Jack Dorsey, announced the global release of software development kits (SDKs) for its tbDEX platform. This platform is designed as an open-sourced, decentralized messaging protocol that facilitates low-cost global transactions using both traditional and modern financial instruments like cryptocurrencies.
TBD’s new initiative aims to enhance transaction efficiency and security by utilizing decentralized identifiers (DIDs) and verifiable credentials (VCs), which are crucial for individuals without formal IDs. According to Emily Chiu, COO of TBD, this approach is central to addressing the financial exclusion of unbanked populations. The tbDEX protocol is set to revolutionize how businesses and individuals transact, emphasizing security and identity verification.
In Latin America, TBD has partnered with Bankaya and Conduit to leverage tbDEX for better financial connectivity. Bankaya focuses on connecting underserved Mexican customers with the U.S., while Conduit, a B2B service, aims to streamline transactions between Latin America, Africa, and the U.S. These partnerships illustrate TBD’s strategic approach to integrating with local payment systems, enhancing predictability, and reducing costs associated with financial intermediaries.
The initiative underscores TBD’s commitment to creating a more inclusive and efficient financial ecosystem. With these partnerships, TBD is poised to drive significant advancements in how money is moved and managed across borders, marking a key step in the evolution of global financial services.
