Vexl P2P App Enables KYC-Free Bitcoin Trading Through Social Networks

A peer-to-peer Bitcoin application called Vexl is facilitating direct cryptocurrency trades between users within their personal social networks, eliminating the need for centralized exchanges or know-your-customer requirements.

Developed by Satoshi Labs, the creators of Trezor hardware wallets, Vexl operates as a notice board connecting first- and second-degree contacts rather than functioning as a traditional marketplace. The platform does not custody funds, store personal data, or hold user messages, with all communications encrypted end-to-end.

CEO Viliam Klamarcik explained that the application's web-of-trust model distinguishes it from competitors by limiting trade visibility to contacts and their connections, reducing fraud risk while maintaining liquidity. Users can arrange cash meetings or private fiat transfers off-platform.

The app requires phone number registration to prevent bot activity, though contact data remains encrypted and hashed. For privacy-conscious users hesitant to import contacts, Vexl offers "clubs"—moderated groups where members can view offers without sharing their broader network.

While available on Android through Google Play, iOS users face restrictions as Apple has blocked the app from its official store, citing concerns about in-person trading. Vexl operates as a non-profit under the Vexl Foundation, a structure increasingly common among privacy-focused cryptocurrency tools facing regulatory pressure.

Klamarcik indicated plans for international expansion beyond European markets in 2025.