Signal tests crypto payment function

Wednesday 7 April 2021 14:54 CET | News

Messenger platform Signal has announced launching a crypto payment option in the beta for users from the United Kingdom.

This payment option is a peer-to-peer system, currently only offering MobileCoin’s MOB currency. Signal Payments has enabled linking a MobileCoin wallet with Signal so users can send and receive money in the form of cryptocurrency to friends and family. Users can keep track of their balance, and review their transaction history, however Signal will have no insight into the user's history or account balance. The beta launch also includes performance enhancements and bug fixes. Users can also transfer their funds at any time if they wish to switch to another app or service.

The new payments protocol currently supports the privacy focused payments network MobileCoin, with which Signal aims to implement quick payments on mobile devices. A Signal representative has stated that users will soon be able to convert to or from MOB on other exchanges such as FTX soon. Although the initial beta launch is only available for UK-based customers, Signal plans on expanding the beta as soon as the company receives more feedback.

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Keywords: product launch, cryptocurrency, mobile payments, P2P
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: United Kingdom
This article is part of category

Blockchain & Cryptocurrencies