Private payments via Mobilecoin is the new feature on the encrypted messaging app Signal
From now on British users can use high-speed privacy payments via MOB.
Signal is a messaging app that is encrypted and has recently made it possible for its users to transfer cryptocurrency to each other. MobileCoin or MOB is going to be used for a new P2P payment system in the beta release according to Signal.
This system was released for testing the beta version for both iOS and Android platforms exclusively for the UK users for now and it is called Signal Payments. It supports MOB cryptocurrency at the time being and only works on smartphones. The company could have chosen coins like Zcash or Monero but they didn’t since MobileCoin is great for smartphones as MOB enjoys high-speed transactions, and occupies little space.
“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.”
Moxie Marlinspike, Signal creator, believes that have been using encryption in their app for the chats and this payment feature is expanding that privacy to payments right after a Facebook leak of 530M users in a forum.
Being launched in 2017, MOB didn’t start trading until Dec 2020 and yet it is not a very well-known token, with no market cap listed on major websites. However, FTX exchange is where you can trade MOB with a 24-hour volume of $80 million.
Upon the announcement, MOB token price rose by %14 in just 24 hours reaching $66 at the time of writing this article.
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