Private messaging app Signal, which is also popular among crypto users, announced they’re launching payments using MobileCoin (MOB). But then things turned sour.
Per the April 6 announcement, this is a beta feature in Signal Beta, available to the United Kingdom folks for testing and feedback purposes. They plan to expand the beta following more feedback.
Privacy-focused payments network MobileCoin, which uses the Stellar (XLM) Consensus Protocol (SCP) to synchronize a ledger, is the first payments protocol for which Signal added support, enabling a MobileCoin wallet to be linked to the messaging app in order to send/receive funds, monitor balance, and review transaction history. It’s currently possible to convert to/from the MOB token on crypto derivatives exchange FTX, with other exchanges coming soon, they added.
Signal does not have access to a user’s balance, full transaction history, or funds, they claimed, while users can transfer their funds “at any time” if they want to change services. Per Business of Apps data, Signal had 40m users in January this year.