Signal Announced a Test Payment System Supporting Cryptocurrency

Signal Announced a Test Payment System Supporting Cryptocurrency

Signal which is a direct alternative to Whatsapp and currently the most trusted privacy-focused instant messaging app is rolling out different features in its beta updates. Tuesday, the company announced that they are rolling out a payment feature for which they want some of their beta testing users to use the cryptocurrency-supported payment system so the company could fix bugs and improve it further for the final release.

Currently, this feature is available to beta users in the United Kingdom. Meaning that everybody using Signal app's beta mode in the UK will see Signal Payments option which is all about a privacy focused payments system integrated into Signal app and is powered by MobileCoin with its own cryptocurrency called MOB coin.

In a blog post Jun Harada, Signal’s head of growth and communication wrote:

“The first payments protocol we’ve added support for is a privacy focused payments network called MobileCoin, which has its own currency, MOB,”

He further shared that the company's focus is on privacy of users thus they are integrating this payment system to make sure that they are not collecting any personal data of users that are related to the payments they will send or receive or how they complete the transactions over Signal app using MOB as a basic cryptocurrency in Signal Payments option.

This will be a straightforward move from Signal to push other social media apps for introducing a decentralized payment system and allow cryptocurrency payments.