Crypto-to-Fiat App P2P.me Raises $2M from Multicoin and Coinbase Ventures
Bitcoin’s original promise of “peer-to-peer electronic cash” hasn’t exactly developed in the way Satoshi intended. More people than ever are eager to pay in crypto, while most vendors want nothing but fiat.
While the mismatch has plenty of workarounds in countries with a strong banking and credit card culture, it’s a real problem in places with alternative electronic payment rails, like QR codes, says pseudonymous crypto developer Sheldon Cooper. How can one scan a fiat-only code and pay in stablecoins?
Cooper’s claimed solution, P2P.me, does it without ever touching the regular on-and-off ramps. Instead, this blockchain-based service relies on a network of middlemen willing to accept USDC from, say, Alice and send the equivalent fiat…
