Ray Youssef, a seasoned figure in the industry, has assumed the role of CEO at Noones, a financial communication app with a mission to connect the Global South to the world's financial systems through peer-to-peer technology. Youssef, co-founder of the well-known bitcoin trading platform Paxful, brings a wealth of experience in the peer-to-peer sector, having previously co-authored CivKit, a blueprint for building censorship-resistant global marketplaces.

Noones, leveraging an open-source protocol, aims to tackle the inefficiencies of traditional banking systems and has rapidly garnered over 400,000 users worldwide in under four months. Notably, its largest user bases are in Nigeria, Ghana, Cameroon, India, and the Philippines. The platform provides a marketplace for users across 190 countries to engage in peer-to-peer trading of bitcoin and stablecoins, utilizing over 400 payment methods, including gift cards, mobile money, bank transfers, and other cryptocurrencies. Additionally, a messenger function facilitates most peer-to-peer trades.

In a significant move, Noones plans to introduce wallet functionality for bill payments in collaboration with top African vendors, demonstrating a commitment to addressing broader financial needs. Youssef envisions Bitcoin as a transformative force, particularly in eradicating poverty and amplifying the Global South's influence in the global financial ecosystem.

This appointment heralds the "official launch" of Noones, signaling a strategic focus on expanding its presence and impact. Youssef aims to create an interoperable Pan-African clearing layer, elevating intra-African trade to levels comparable to intra-European trade. Despite Youssef's optimism about Bitcoin's potential, it's worth noting that Noones, despite adopting peer-to-peer principles, still requires a KYC onboarding process.

Youssef's prior involvement with Paxful ended amid internal strife, leading to the shutdown of the platform. He attributed this closure to a lawsuit from co-founder Artur Shaback, which Youssef claims was motivated by greed. Despite the challenges, Youssef remains steadfast in his commitment to peer-to-peer trading and financial empowerment, with Noones poised to play a pivotal role in advancing these objectives in the evolving landscape of global finance.