The cross-platform centralized encrypted messaging service Signal on Tuesday announced that it is testing a peer-to-peer (p2p) payment system on its platform.
Signal added that it has added support for a payments network called MobileCoin, which offers its own cryptocurrency, MOB. The payments system is currently available to a select group of users in the UK through the latest Signal betas.
According to Signal, the new payment system will make it easier for users to connect to a MobileCoin wallet which will then allow users to send funds to their friends and family, receive funds, and also keep a track of all the transactions on the instant messaging app.
The company maintains that the support for MobileCoin does not mean it will access users’ data.
“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,” Signal wrote in a blog post.
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Signal Payments will most likely be compared with rival WhatsApp’s pay.
