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Signal Now Supports In-App MobileCoin Cryptocurrency Payments
Signal’s latest beta version has introduced a new payment feature, called Signal Payments, allowing users to send and receive cryptocurrency from within the app.
The latest beta version of the privacy-oriented instant messaging platform Signal has introduced a new cryptocurrency payment feature, called Signal Payments, allowing its users to send and receive MobileCoin tokens directly from the Signal app.
Initially, the cryptocurrency payment feature will be available only to Signal users living in the United Kingdom, but support for more regions is planned for the future.
Signal
“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,” explains Signal in the official announcement. “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.”
Following the launch of the beta integration of MobileCoin, the value of a single MOB token jumped from $7 to over $60.
It’s no coincidence that MobileCoin was picked as the first cryptocurrency supported by the messaging app. The platform’s founder, Moxie Marlinspike, is listed as MobileCoin’s technical adviser, and some keen observers have pointed out that his involvement could be much deeper than both he and MobileCoin admit.
According to an early version of the MobileCoin whitepaper, Marlinspike was the project’s original CTO. If this information is true, then the decision to integrate MobileCoin should raise some serious questions among users, questions some members of the crypto community have already voiced their opinions.
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“Signal sold out their user base by creating and marketing a cryptocurrency based solely on their ability to sell the future tokens to a captive audience,” said Bitcoin Core developer Matt Corallo, who also used to be a contributor.
MobileCoin CEO Joshua Goldbard disputed the authenticity of the whitepaper, claiming that it wasn’t written by anyone at MobileCoin even though the project’s current whitepaper is almost identical to it. Marlinspike refused to say anything about his professional relationship with MobileCoin.