Signal Officially Launches Cryptocurrency Payments and Digital Wallet Feature

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Brian Adam
Professional Blogger, V logger, traveler and explorer of new horizons.
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Despite the fact that economic and monetary authorities around the world are trying to buy time around cryptocurrencies by putting up some obstacles and issuing warnings about the risk of investing in them, it is still paradoxical that applications of common and popular use are opting for its use as a way to send or receive money through, as in this case, Signal chats. The messaging application, which in recent months has multiplied its number of users due to the setback caused by WhatsApp last January, is launching an initiative that will allow all its users to send virtual money quickly and easily . In the same way that WhatsApp is already doing with the arrival of a payment platform that will try to make its way by facilitating access to our bank cards with very few clicks. At the moment only in the United Kingdom What Signal has done is to launch, at the moment in a limited way for the United Kingdom, the possibility of sending and receiving money through a so-called cryptocurrency that uses the MobileCoin payment protocol and that they call MOB . As we told you, this function has been seen in one of the latest beta versions published and it is already reaching users in that country. That means that through Signal we can accumulate the amount that we want to have of these MOBs and, progressively, spend it in the way that we like the most, well paying the debts (meals, soft drinks, etc.) that we have with other friends or, who knows, if you have your sights set on a business side where it will be possible to purchase products through chats. The latter, of course, would not fit with the non-profit nature of the platform. As they explain, Signal will not have access to any type of user information, such as the payments carried out, transactions, etc., in such a way that everything is in the hands of the payment platform (MobileCoin) that centralizes all the economic operations that can be carried out through the messaging app. Obviously, by configuring Signal as a digital wallet, it will be possible to transfer those funds to other destinations in order, either to pay if they accept these MOBs, or to settle the balance to exchange it for real currency on a website that offers these services (1.88 MOB are currently equivalent to 85.25 euros). According to Signal, the first test is coming to the UK although there will be a worldwide launch “very soon”.

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