Inviting Market-makers to join the Relay network — Jan 9: Cash App US & UK

Since launching on April 1, 2019, Relay has led the Bitcoin industry in building a dynamic global on-off ramp settlement network. Today marks a major milestone in our short history. We are formally inviting market-makers publicly for the first time to join the Relay Onchain Network.

So far, we have been blessed to have served thousands of users in our RelayX beta phase, and connected dozens of payment systems.

Now, we are inviting 3rd party, independent market makers to provide liquidity for RelayX and the wider Bitcoin ecosystem.

We have built a product experience for that we believe you will love.

Today we begin on-boarding market makers for both Cash App and Cash App UK. We will on-board for other payment forms in the days ahead.

Why become a Relay market maker?

Market makers provide a service to the ecosystem by making it convenient for other users in the market to buy and sell Bitcoin when they please. Market makers profit by capturing a spread — selling Bitcoin at a price above the market price while buying it back below the market price.

In a simple example, if the market price for Bitcoin is $100 and John, a market maker sells BSV for $100.50 while buying it back at $99.50, John has made $1. When applied to a large number of orders, these profits can add up quickly.

Our Relay proprietary technology enables market makers to always sell Bitcoin at a premium to market price and buy Bitcoin at a discount. We have removed the need to pay attention to the price movements of Bitcoin if you want to make money by providing this service.

Order confirmation is a breeze.

Selling Bitcoin: It’s automatic. We have eliminated the annoying requirement of manually confirming fund receipts that are used in other peer to peer marketplaces such as Local Bitcoin.

Buying Bitcoin: We send you Bitcoin in real-time, every time. No need to wait for the seller to confirm receipt of funds since we handle that part.

How do we do this?

Via payment confirmation email forwarding. By being witness to your Cash App transactions, Relay is able to detect payments much like reading from a public blockchain, saving you time and effort while improving the end users’ experience.

How to become a Relay market-maker?

To become a Relay market-maker, join the discussion on Telegram in our dedicated Cash App and Cash App UK channels. We can also be reached at support@relayx.io. We will provide full details on how to sign-up, set up your email forwarding, and begin providing liquidity.

If you do not currently have Cash App but are interested, download the app here.

Being able to service all users who wish to on and off ramp from Bitcoin is a top priority and we are excited to invite everyone to join us on this journey.