Signal testing a new payment feature with Mobilecoin’s MOB cryptocurrency

Signal also introduced support for MobileCoin, a payments network which provides its own cryptocurrency, MOB.

 

The popular encrypted messaging app, Signal is experimenting with a new peer-to-peer payment system in its app that will enable users to send payments with a focus on privacy. For users in the United Kingdom, the feature is currently available in a beta version. In other countries, the messaging app has yet to begin testing the functionality.

The latest beta version of Signal is now available. Performance upgrades, a slew of bug fixes, improvements to the mute settings, and, users in UK region can see support for Signal Payments, a new “feature that allows you to send and receive privacy-focused payments as easily as sending or receiving a message”, are all included. Jun Harada, Signal’s head of growth and communication, explains

Signal has grown in popularity in recent months as more consumers are looking for safer peer-to-peer messaging platforms. Signal is regarded as one of the safest messaging apps. Since Facebook-owned WhatsApp unveiled new terms and policies for its users earlier this year, Signal saw an increase in downloads. Signal reported 26.4 million downloads between January 4 and January 17 according to January Sensor Tower data.

 

Also read: Facebook responds to the data breach, claiming that the information was scraped and not hacked

 

Signal also introduced support for MobileCoin, a payments network which provides its own cryptocurrency, MOB.

 

Signal testing a new payment feature with Mobilecoin's MOB cryptocurrency
Signal also introduced support for MobileCoin, a payments network which provides its own cryptocurrency, MOB.

 

Signal is experimenting with payments with one-protocol: the Mobilecoin wallet, which has its own currency, MOB. According to Harada’s blog, once you connect your Mobilecoin wallet to Signal, you can start sending and receiving money from your friends and family. Because of the way Mobilecoin is built, he assures that Signal will not have access to your funds, balance, or other personal information. Signal will not have access to anything relevant to users’ money on its app, and only the sender and recipient would be notified of the transactions.

Signal Payments would almost certainly be compared to WhatsApp Payments.