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Signal is testing a new cryptocurrency payments feature

It's currently available in the beta channel and limited to the UK.
News
By
April 7, 2021
Signal Private Messenger stock photo 6
Edgar Cervantes / Android Authority
TL;DR
  • Signal has introduced a payments feature to its latest beta build called Signal Payments.
  • The feature uses the MOB currency and is built on the MobileCoin platform.
  • It’s currently limited to those in the UK.

After Signal added a heap of features to its encrypted chat app in January, it’s now gaining a new financial feature called Signal Payments available in the app’s latest beta build.

Signal Payments doesn’t use its own currency but instead relies on cryptocurrency MobileCoin. Users of the chat app can link a MobileCoin wallet to their chat accounts to send and receive funds and view balance and transaction history.

Like the rest of the app, Signal Payments retains the app’s focus on privacy. Signal notes that it cannot access users’ wallets, view their transaction history, or see their balance. If users try the feature but want to opt-out, they can also transfer funds out of their wallets at any time.

While MOB is only available to trade on one exchange based in the UK, Signal hopes will be available on other global exchanges “soon.”

Will you use Signal Payments?

71 votes

You can subscribe to Signal’s beta channel on Android by tapping the button below. Note that the feature is only available in the UK for now. But will you use the feature when it makes its official debut? Let us know by voting in the poll above!