Signal users in the UK can now beta test MobileCoin via a new payments feature
April 6, 2021, 3:42PM EDT
1 min read
Encrypted messaging service Signal has begun allowing some of its users to test a new payments feature that includes support for a cryptocurrency.
"We want payments in Signal to be fast, private, and work well on mobile devices. The first payments protocol we’ve added support for is a privacy focused payments network called MobileCoin, which has its own currency, MOB," Signal said in a Tuesday blog post.
In the blog post, the company described the functionality as "a beta feature in a beta build." Still, it represents a notable development for the maker of the popular app maker.
The new integration comes a few weeks after MobileCoin raised over $11 million in Series A funding, with backing from Future Ventures and General Catalyst. Signal creator Moxie Marlinspike is an advisor to the project.
Using the new feature "Signal Payments," users can send and receive funds, keep track of their balance, and review their transaction history. Signal will not have access to any transaction information and users can transfer their funds at any time if they want to switch to a new app or service.
Currently, only users in the United Kingdom have access to the feature, but the Signal team says they plan to expand the beta as they receive more feedback.
MOB is currently trading hands at around $66 on crypto exchange FTX and is up more than 15% in the past 24-hours.
Adidas Originals, a brand of the German sportswear clothing firm Adidas, announced a partnership with the crypto exchange Coinbase in a Wednesday tweet. Details about the partnership are scant, however.