Signal announced that it is testing a peer-to-peer payment system called Signal Payments in the Beta version of the app. Currently, the system only supports one protocol-MobileCoin wallet and its supporting cryptocurrency MOB.
MobileCoin has a close relationship with Signal co-founder and CEO Moxie Marlinspike, who advised the company before the latest round of financing announced last month. Jun Harada, Head of Growth and Communications at Signal, wrote in a blog post: “The first payment protocol we added support was MobileCoin, a privacy-focused payment network, with its own currency MOB.
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As always, our goal is to keep your data in your hands, not ours; the design of MobileCoin means that Signal cannot access your balance, all transaction history, or funds. If you want to switch to other apps or services, you can always Transfer your funds”.
However, the company said that the payment system is currently only open to the UK, and eligible people can register for MobileCoin and access the feature through the Signal beta. Harada wrote: “This is a beta build feature. For those living in the UK, please help us test and provide feedback.”
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