Signal is testing a new feature to let you send cryptocurrency

Signal is testing a new feature to let you send cryptocurrency
TOI
Taking a cue from its rival WhatsApp, the fast-growing encrypted messaging app Signal has announced to let users send money in cryptocurrency to friends and relatives, as it tests a new peer-to-peer payments system in the beta version of its app.

Called Signal Payments, the new feature that is available in the UK first will currently support a privacy-focused payments network called MobileCoin, which has its own currency, MOB.

"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," said Jun Harada, Signal's head of growth and communication.

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"You can also transfer your funds at any time if you want to switch to another app or service," he said in a statement late on Tuesday.

The company said it aims payments in Signal to be fast, private, and work well on mobile devices.

"Signal Payments makes it easy to link a MobileCoin wallet to Signal so you can start sending funds to friends and family, receive funds from them, keep track of your balance, and review your transaction history with a simple interface," the company said.

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"If you want to give it a spin and let us know what you think, it's possible to convert to/from MOB on FTX and other exchanges soon".

WhatsApp already has a peer-to-peer payments facility in its app and is currently live in India and Brazil.


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