P2P.me Secures $2M Investment from Multicoin Capital and Coinbase Ventures
Bitcoin's initial vision as "peer-to-peer electronic cash" faces challenges as demand for crypto payments grows, but vendors prefer fiat. This discrepancy is especially pronounced in regions with alternative payment systems.
Sheldon Cooper's solution, P2P.me, enables users to pay in stablecoins without traditional on-and-off ramps. The platform uses a network of intermediaries to convert USDC to fiat, completing transactions in about 90 seconds.
- P2P.me employs zero-knowledge proofs for user verification without storing personal data.
- The service has processed $1.6 million in payments from around 1,100 users, mainly in Indonesia, Nigeria, and Vietnam.
- Recent investments of $2 million from Multicoin Capital and Coinbase Ventures support expansion efforts.
- The team has grown to 20 members, targeting Latin America and crypto-savvy tourists.
- A token launch is planned within the next 12 months to enhance community control and global scaling.
Cooper emphasizes prioritizing privacy and self-custody over traditional financial data practices.