The signal platform is now testing a new payment system to let users send cryptocurrency as a Signal payment. The new peer-to-peer payment system will be available on the beta version of Signal. This new feature of Signal payments will support only one protocol: the MobileCoin wallet and its companion cryptocurrency MOB. MobileCoin has a very close relationship with the Signal co-founder and CEO Moxie Marlinspike.
The company revealed that their main aim is to give users a platform where they can transfer funds at any time, and they also promise to make this new platform as fast and secure as possible for making the payment.
The first protocol that the Signal will support for their private payment network will be MobileCoin which has its currency called MOB. Wrote Jun Harada, Signal’s head of growth and communication. Harada stated in a blog spot
As always, Signal’s goal is to keep the users’ data in their hands rather than Signal’s; MobileCoin’s design means Signal does not have access to your balance, complete transaction history, or funds. You can also transfer your funds to anyone at any time and if you want to switch to another app or service.
The company also stated that this new feature will be available in the UK for now then those who will qualify for sign up for MobileCoin can test this new payment feature through Signal Beta. Harada revealed that this new beta build would be available for those living in the United Kingdom; for now, Harada also stated to help Signal grow this new payment system by giving feedback on this new payment method.