Signal is working on a new payment feature to help you send cryptocurrency to friends

Signal is working on a new payment feature to help you send cryptocurrency to friends

Tech News: Signal is working on a new payment feature to help you send cryptocurrency to friends.

Signal announced Tuesday that it is now testing a new peer-to-peer payment system in the beta of its apps. The new feature, appropriately called Signal Payments, currently supports only one protocol: the MobileCoin wallet and its MOB cryptocurrency. MobileCoin has a close relationship with Signal co-founder and CEO Moxie Marlinspike, who advised the company ahead of its latest funding round announced last month.

“The first payment protocol that we have added support to is a privacy-focused payment network called MobileCoin, which has its own currency, MOB,” Jun Harada, Head of Growth and Communications at Signal, wrote in a blog post. . “As always, our goal is to keep your data in your hands and not ours; MobileCoin’s design means that Signal doesn’t 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. “

The company says those interested in trying the feature must live in the UK for now, and those who qualify can sign up for MobileCoin and access the feature via the Signal beta. “This is a beta feature in a beta build, but for those in the UK living on the fringes, please help us test and provide feedback,” writes Harada.