After MOB token surged over 2000% in three months, Signal announced the launch of privacy payments based on MobileCoin.

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Signal Launches Cryptocurrency Payment Feature

Privacy-focused messaging app Signal announced the launch of a new feature in its beta test version yesterday. Users can now try out the MobileCoin (MOB) token payment feature in the beta version, which is based on the privacy payment protocol of MobileCoin. The design of the MobileCoin protocol is decentralized and utilizes Microsoft Azure's encrypted computing technology, allowing transactions to be completed without revealing transaction details to network validation nodes. This means that the Signal platform itself cannot access user balances, complete transaction records, or financial data flow. Signal stated in the announcement:

"With Signal Payments, you can easily connect your MobileCoin wallet to Signal, allowing you to send funds to friends and family or receive funds from them through a simple interface, track balances, and view transaction histories. As usual, your data is in your hands, not ours."

Currently, the beta version is only available for iOS users in the UK, with testing not yet open to users in other regions. However, the team plans to expand the beta test further after receiving more feedback. Additionally, according to a previous announcement from the MobileCoin Foundation, individuals or entities in the US cannot download or use the MobileCoin wallet. This means that even if the new feature is launched, users in the US will not be able to use Signal's privacy payment feature.

Three-Year Effort for Privacy Payment Protocol

MobileCoin is a payment network built on the Stellar blockchain framework and guided by Signal founder Moxie Marlinspike. The protocol raised $30 million in 2018 with the lead investment from Binance Labs. In March of this year, it received over $11 million in Series A funding from Future Ventures and General Catalyst.

Its token MOB can be traded on the FTX exchange. In the past few years, MobileCoin has not received much attention. However, this year, the price of MOB has explosively grown, skyrocketing from $7.7 at the end of March to a peak of $73, bringing widespread attention to the project. Despite the surge in token price, the official details of MOB tokens have not been publicly disclosed.