Signal, the secure mobile messaging app, is testing a feature that lets you send and receive cryptocurrencies. The company announced on its blog that the latest version of the beta will integrate Signal Payments, a feature to perform cryptocurrency payments in the messages.
According to Signal, the idea is that payments are fast, private and working well on mobile devices. The beta phase is now available in the UK and includes MobileCoin, the cryptocurrency created by the technology in 2017.
Cryptocurrency payments on Signal they will be as simple as sending a message. To achieve this you must connect a digital wallet to the app to send and receive deposits in cryptocurrencies. By linking it, Signal will allow you to check the balance and payment history in a simple interface and with the promise of not accessing or manipulating your funds.
People may convert to MobileCoin using FTX, although Signal promised that it will add more exchange platforms. Similarly, the testing phase will be extended to other countries, although for this to happen they must first analyze the feedback from those who already use it in the United Kingdom.
Signal will accept MobileCoin to send and receive cryptocurrency payments
MobileCoin (MOB) was announced in 2017 by Signal as part of a plan to facilitate and democratize cryptocurrency payments. MOB is based on the Stellar Consensus Protocols platform, a alternative open source payment network which is fast and efficient.
In addition to the ease of use, MobileCoin offers encrypted individual transactions that take no more than 10 seconds to complete. In case you lose your mobile device, the option to get your wallet back without having to trust your private keys to a third party.
Signal’s cryptocurrency payments come at a time when digital currencies begin to consolidate in popularity. A few weeks ago Tesla made a millionaire investment in Bitcoin and announced that it would accept it as a means of payment for its electric cars.
Following Tesla’s announcement, MasterCard confirmed that it would support cryptocurrencies on its network, while Visa already views them as a serious gamer. Some days ago PayPal announced that it will allow users in the United States pay with bitcoin, Ethereum, Litecoin and more. The company activated the “Checkout with Crypto” function to convert digital currencies to dollars no transaction taxes.
As if that were not enough, the explosion of the NFTs sent the price of Ethereum skyrocketing in recent weeks. With all this, there are many analysts and companies that remain on the sidelines and do not invest in cryptocurrencies due to its volatility.