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Former Paxful Founder & CEO Ray Youssef Appointed CEO of New Peer-to-Peer Bitcoin Marketplace NoOnes

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Ray Youssef, former Paxful CEO has been appointed as CEO of NoOnes, the just launched peer-to-peer bitcoin marketplace connecting people of the Global South to the world’s financial systems in a move expected to champion the startup’s audacious mission to achieve a billion daily active users of Bitcoin within the next seven years.

Ray Youssef’s addition to the organisation brings with it a wealth of experience and insights across areas such as strategic planning, product innovation, growth hacking and operations management. As a seasoned entrepreneur, he brings years of insights to the organisation, having navigated the challenges of the startup landscape. Prior to joining NoOnes, Youssef had served as the CEO of Paxful, USA, INC. a company he founded and led to unprecedented heights.

Youssef is also one of the brains behind Built with Bitcoin, a foundation that aims to build 100 communities across Africa, helping to improve the physical, mental, environmental and financial health of the underserved.

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Speaking on his new role as CEO of Noones, Ray Youssef, stated, ‘It’s an honour to assume this position and get straight to work. For the past 8 years, I have fought for financial sovereignty for the Global South. Finally, I am glad to be able to fulfil the mission I began almost a decade ago. I’m confident that Bitcoin will play a crucial role in promoting the prosperity of our continent, and I’m thrilled and privileged to contribute to the company’s ambition and growth. Our first major goal will be to create an interoperable Pan-African clearing layer taking intra African trade from the single digits, to levels comparable to intra-European trade. Africa alone has the potential to make NoOnes a trillion dollar company but when you factor in the rest of the global south the sky’s the limit.”

Founded in 2023, NoOnes enables users to move money freely and faster, without the friction and bottlenecks associated with legacy banking and financial institutions. Its business ideology hinges on the belief that peer-to-peer is the world’s only true free market and that Bitcoin is the new global financial architecture poised to uplift the people of Africa, Latin America and South East Asia. NoOnes’ biggest markets to date are Nigeria, Ghana, Cameroon, India and Philippines, accruing over 400,000 users worldwide to date,  and achieving profitability within just under 4 months of operations.

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The NoOnes app comprises a marketplace where users from 190 countries can buy or sell Bitcoin and stable coins with over 400 payment methods available (including gift cards, mobile money, bank transfers and other crypto currencies.). A wallet which acts as a store of value and a messenger where the majority of peer-to-peer trades take place.

The app has an upcoming advanced wallet functionality that enables bill payment processing with top African vendors through a simplified and seamless KYC onboarding process and the provision of a safe trading environment with a fast and effective localised dispute process.

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As a co-author of the CivKit whitepaper – a decentralised open-source protocol for Civilization 2.0 – Youssef emphasises his commitment to financial inclusion. He envisions Bitcoin playing a pivotal role in eradicating poverty and giving the Global South a rightful seat in the global financial conversation, fostering more trades and more wealth. NoOnes will be the first company to build on CivKit sharing its liquidity and welcoming new competitors to build a global free market together.

“The internet, mobile phones, and a wave of disruptive startups failed to truly disrupt money. At NoOnes, we believe that finishing Bitcoin is the way. New financial tools are creating unprecedented, borderless opportunities and these tools empower and will continue to empower the people in ways never seen before,” concluded Youssef.

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James Musoba
James Musoba
Studying Africa's startup and technology scene. I always look forward to discovering new exciting inventions and vibrant entrepreneurs.

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