Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News
Whatsapp

Signal Tests Peer-to-peer Payments via Cryptocurrency

IANS
IANS
Meet the voice behind Indo-Asian News Service (IANS), a storyteller navigating the currents of global events with precision and depth. Crafting narratives that bridge cultures, IANS brings you the pulse of the world in every word

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.

Signal Payments, the new feature 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.

“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.

“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.

The Latest

Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Recommended