Signal announced the launch of its Signal Payments app New payment system It will allow users to securely send and receive money directly from the instant messaging platform.
“We want payments on Signal to be fast, private, and work well on mobile devices. John noted that the first protocol we added support for is a privacy-centric network called MobileCoin. Hrada, Head of Growth and Communications for the company.
This protocol has its own cryptocurrency called mob, Which has been designed “to be used as digital cash” while protecting privacy. To start using Signal’s new payments feature, all you need to do is link your MobileCoin wallet to the app.
“Our goal is to keep your data in your hands, not in our hands. MobileCoin’s design means that Signal cannot access your balance, full transaction history, or funds. You can also transfer your money at any time if you want to switch to another app or service.”
Moxie MarlinspikeSignal, the creator of Signal, describes the new cash exchange system as an attempt to extend the platform’s privacy protection for payments. The purpose is for only the sender and the recipient to be aware of the transactions.
For now, the feature is only available on Beta For UK users via the app for iOS and Android devices (no desktop client support). With feedback gathered, the company promises to expand the test to more countries.