Building a truly open ecosystem
The tbDEX protocol creates a bridge, based on open standards, that connects the world of legacy money to digital money and assets, without the need for centralized intermediaries or governance tokens. True to open source practices, tbDEX is a protocol that is available to everyone, but owned by no one.
tbDEX allows any organization that shares the vision of an open payments system to integrate with tbDEX and benefit from an ever-growing network of global participants.
Participating Financial Institutions (PFIs)
Participating Financial Institutions (PFIs) are entities that offer liquidity, which can be in fiat currencies, digital assets, or even real world goods. PFIs can be, but are not limited to, fintech companies, regional or large institutional banks, and other financial companies that exchange digital assets and make markets. PFIs have access to payment systems and the ability to facilitate fiat exchanges for digital assets (or vice versa). PFIs run nodes on the tbDEX network without need for permission from any individual, federation, or organization.
At scale, a global network of PFIs brings more liquidity and competition, resulting in lower fees, faster transaction times, and more options for enterprises and their end consumers.
Applications and wallets
Wallets and Applications seek value from PFIs by exchanging their assets for desired liquidity. Self-custody wallets and non-financial apps may also seek liquidity exchanges on tbDEX. Developers can integrate tbDEX to support any number of design features and functionality tailored to their desired user experience. For example, a wallet could algorithmically select PFIs based on speed, cost, or record of past performance, and abstract away any complexity from end customers; or, it could delegate that choice to the owner of the wallet and expose more optionality.
Credential Issuers
Financial use cases on tbDEX will be unlocked through a network of verifiable credential issuers that help build trust and compliance. Examples could be authoritative issuers, such as a government agency issuing a physical identity document as a VC. Global identity verification (IDV) providers play a key role by verifying the information upon which the VCs rely. As such, a financial institution can issue a VC based on its existing IDV and KYC onboarding process. It’s up to PFIs to decide whether to trust the counterparty’s VCs, based on their regulatory obligations and the level of trust they have in the credential issuer.
Join the tbDEX ecosystem
Join the tbDEX open source community in building an interconnected global economy built upon open protocols and common standards that’s inclusive and accessible to all.