In spring 2021, encrypted messaging app Signal announced that it would test payment capabilities in the UK and integrate support for MobileCoin. As a relatively new cryptocurrency, Signal claims that MobileCoin is more focused on the privacy experience. Since mid-November last year, the company has quietly embarked on broader phased testing, giving millions of mobile device users the ability to make digital payments.
The latest news is that MobileCoind founder Josh Goldbard has confirmed the time to officially roll out Signal's new payment features to international markets.
Referring to Signal's Total Downloads report, hundreds of millions of devices are now able to turn on MobileCoin and enable end-to-end encrypted payments in five seconds (or less).
It is said that the current daily trading volume has reached thousands, compared with only a few dozen daily trading volume in the testing phase.
Even so, Signal's payment function is not convenient enough to use.
Signal users in most market areas can access their MobileCoin wallets by tapping the + icon and selecting 'Pay'.
In addition to waiting for the cryptocurrency wallet to load, the cryptocurrency is only listed on a few smaller exchanges (such as BitFinex and FTX), none of which are for the US market.
At the same time, Signal did not respond to foreign media requests for comment. However, in an interview with Wired last April, Moxie Marlinspike explained his desire to introduce payment capabilities for Signal, an encrypted video calling/messaging app.
Apparently, the move is to allow Signal to compete directly with the likes of WhatsApp and Facebook Messenger in terms of functionality, while giving users the app's acclaimed privacy protection features.