It only supports the MobileCoin protocol right now
Signal announced on Tuesday it’s now testing a new peer-to-peer payments system in the beta version of its apps. Appropriately called Signal Payments, the new feature right now supports only one protocol: the MobileCoin wallet and its companion cryptocurrency MOB. MobileCoin has a close relationship with Signal co-founder and CEO Moxie Marlinspike, who advised the company prior to its most recent round of funding announced last month.
“The first payments protocol we’ve added support for is a privacy focused payments network called MobileCoin, which has its own currency, MOB,” wrote Jun Harada, Signal’s head of growth and communication, in a blog post. “As always, our goal is to keep your data in your hands rather than ours; MobileCoin’s design means 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 service.”
The company says those interested in trying out the feature must live in the UK for now, and those who qualify can sign up for MobileCoin and access the feature through the Signal beta. “This is a beta feature in a beta build, but for those in the United Kingdom living life on the edge, please help us test and give feedback,” Harada writes.