Signal tests payments feature that lets you send and receive cryptocurrency

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Signal, the encrypted messaging app, is testing a new payments feature on its platform with a significant focus on user privacy. It is planning to allow customers to send and receive money in the form of cryptocurrency and not link their debit/credit cards or bank account details with the app.

Explaining the pilot idea, Jun Harada, who is the head of growth and communication for Signal, said the experiment was still in its beta stage available for users in the United Kingdom.

“The latest Signal betas are rolling out today. Inside, you’ll find performance enhancements, a slew of bug fixes, improvements to the mute settings, and if you’re in the United Kingdom, you’ll see support for Signal Payments a new feature that enables you to send and receive privacy-focused payments as easily as sending or receiving a message. This is a beta feature in a beta build, but for those in the United Kingdom living life on the edge, please help us test and give feedback,” Harada said in a blog post.

Signal has partnered with Mobilecoin Wallet which has its own currency – MOB to test the new payments feature. If the Mobilecoin wallet is linked to a Signal account, users can send and receive money in the form of cryptocurrency. The company said these transactions would be completely private and the app will have no access whatsoever related to user funds, transaction or wallet balance.

“Signal Payments makes it easy to link a MobileCoin wallet to Signal, so you can start sending funds to friends and family, receive funds from them, keep track of your balance, and review your transaction history with a simple interface. 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,” Harada further asserted.