reply on: Bitcoin peer2peer marketplace on a mobile app for the EU market \ stacker news ~bitcoin

Peach is in the category of a KYC-Free P2P trading platform. So it's more like HodlHodl, LocalCoinSwap or LocalCryptos, but as a mobile app rather than a website.

I looked at the Telegram messages (link to their Telegram at the bottom of the site), and looks like they have been referring to their app internally as being an MVP (minimally viable product), with onchain only currently (but eventual support for Lightning).

I couldn't really tell for sure, but it appears the escrow transaction is an onchain multisig (2of2) with Peach and the seller. So I suppose what happens then is Peach is custodian of the BTC after seller releases escrow, and then buyer withdraws BTC from Peach. So it's not non-custodial, but I guess the term used is minimally custodial.

The sweet spot for P2P is essentially good liquidity and security:

Liquidity means offers can be found at a fair price and for trade amounts commonly needed. Peach limits to 1,000 CHF (~ $1,020 USD) per day. This might limit liquidity as large traders would run into that limit quickly. But it is KYC-Free so I suppose anyone could create multiple accounts if they really wanted to do more trades.
Security means the trade completes as agreed. The minimal custody model means both the seller and buyer don't need to trust the platform all that much, even if they were "hacked" or whatever. Because PayPal and Revolut are two of the payment methods, this means reputation / trust history is what the seller will rely on to avoid chargebacks / reversals.