The problem Paydece P2P solves

The Problem:
Most fiat on/off ramps are centralized, requiring users to go through custodial platforms, expose their data, and rely on third-party trust. This limits access in emerging markets, introduces censorship risks, and increases vulnerability to hacks, account freezes, and KYC/AML bottlenecks.

Additionally, centralized platforms don't scale globally due to payment method fragmentation, lack of local liquidity, and compliance constraints. Users in regions with unstable economies are left without safe, flexible, and private options to access crypto.

Challenges we ran into

Challenges We Faced:

Regulatory uncertainty: Navigating compliance across multiple jurisdictions, especially in emerging markets and while staying decentralized, has been complex.

Liquidity bootstrapping: Building a liquid P2P marketplace from scratch required creative incentive mechanisms and early power users.

User trust: Educating users to trust decentralized smart contract escrows over traditional centralized platforms took time and UX refinement.

Volume drops: After the removal of USDT in Europe (MiCA), we lost over 50% of our volume, but successfully recovered by adapting to new stablecoins.

Security threats: We overcame a hack via our hosting provider (GoDaddy), quickly migrating and reinforcing infrastructure.

Fundraising: We nearly ran out of runway more than once before closing our $2.2M seed round with Tim Draper as lead.