Signal messaging app allows cryptocurrency transfers

Signal messaging app allows cryptocurrency transfers
Signal messaging app allows cryptocurrency transfers

Thanks to the MobileCoin protocol, it is now possible to transfer virtual currency to your Signal contacts. The secure messaging application has indeed just included this protocol in its beta version for Android.
Last name, first name and telephone number of the contact recipient of the money transfer is sufficient. With these elements, Signal makes it possible to send funds peer-to-peer in the form of cryptocurrency.

Send MOBs

For now, the MobileCoin protocol only allows the sending of virtual currency called MOB. But the system may well be extended to even more popular ones like bitcoin. Why the MOB? Quite simply because since its launch, Signal has prided itself on being one of the most up-to-date messaging applications on the subject of data confidentiality, and that the MobileCoin payment network and its MOB would be precisely focused on confidentiality.

“As always, our goal is to keep your data in your hands rather than ours”, shares Jun Harada, communication manager of Signal. “The design of MobileCoin means that Signal does not have access to your balance, full transaction history or funds. You can also transfer your funds at any time if you want to switch to another app or other service “.

Available in UK

To make payments to friends more easily from the Signal application, it will be possible for each user to link their MobileCoin account to Signal Payments. A follow-up of the balance and the history of the transactions will then be possible.

The new feature is first launched in beta in the UK, and will be rolled out to other countries once testing is finalized.

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