July 24, 2021

Encrypted messaging app Signal enables private payments using MobileCoin

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Encrypted messaging app Signal has begun testing a payments feature that allows users to send cryptocurrency to other users privately.

Signal announced on Tuesday, Apr. 6, that it is integrating support for MobileCoin for a new peer-to-peer payments system in the beta version of its apps.

The new system called Signal Payments has been launched for beta testing on Android and iOS platforms for UK-based users only at the current time. Additionally, it only supports MobileCoin’s MOB cryptocurrency, which has been designed to be used on smartphones.

Signal was mulling private crypto payments in January as reported by Cointelegraph. Signal’s head of growth and communication, Jun Harada, commented on the privacy features of MobileCoin, stating:

“As always, our goal is to keep your data in your hands rather than ours; MobileCoin’s design means Signal does not have access to your balance, full transaction history, or funds. You can also transfer your funds at any time if you want to switch to another app or service.”

Signal creator, Moxie Marlinspike, stated that the new payments feature is an attempt to extend its privacy protections to payments, with the sameTitle: Encrypted messaging app Signal enables private payments using MobileCoin
Sourced From: cointelegraph.com/news/encrypted-messaging-app-signal-enables-private-payments-using-mobilecoin
Published Date: Wed, 07 Apr 2021 03:34:18 +0100