Since digital assets started to blow up in the last couple of years, various entities have been showing an unwavering interest in them. Not only do people want to own them, but some also want to trade them for profits while others want to be the bridge.
In this age and time that things have already gone digital, we have seen many of the world’s population turn to this new form of investment, giving platforms a business to run and a way for everyone to make profits. In a bid to start making profits and providing crypto trading services to its users, messaging focused app, Signal, has announced that it has rolled out a new version of its app which will support payments via digital assets.
Signal to use MobileCoin as its in-app token
With this in mind, Signal has also announced that its users across the US would send and receive the in-app token of the platform, MobileCoin. In their description, the MobileCoin is a privacy-focused digital asset designed with the same technique that other privacy coins such as Monero and the likes.
They are privacy coins in the sense that while Bitcoins transactions are available on the blockchain, their transactions use a spend and burn method, which allows them to be obscured even though they are also entered in a ledger.
While MobileCoin is said to have its unique blockchain, the platform mentioned that most of the modified components in the design were gotten from Stellar. The MobileCoin is currently scarce, with the only person officially selling it is FTX, the crypto platform owned by Sam Bankman-Fried, who is often regarded as the crypto wunderkind.
Signal foundation now accepting crypto
Signal has been trying to enter the crypto scene for a long time after making some teasing announcement some months ago. Even so, the owner of the platform, Moxie Marlinspike, has been one of the integral members of the advisory team for MobileCoin.
A previous post in the early parts of this year stated that the firm was looking into adopting the MobileCoin. While it was good news when it broke, some higher powers at the firm were against the move, pointing their fingers towards the regulatory hurdle the coin might harbor.
Some months ago, the Foundation arm of the platform announced that it would start accepting generous donations in Bitcoin some weeks ago. In his words to journalists, Marlinspike mentioned that he was hoping that people would be able to use their signal app and be able to pay and receive payments through it.