WhatsApp's competitor Signal tests peer-to-peer payments via cryptocurrency

 

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.

Called Signal Payments, the new feature that is available in the UK first will currently support a privacy-focused payments network called Mobile Coin, which has its own currency, MOB.

"As always, our goal is to keep your data in your hands rather than ours; Mobile Coin’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. Read More