Privacy-focused messenger app Signal could integrate a crypto payment platform related to Stellar-based privacy-focused cryptocurrency called MobileCoin. The messaging app saw a 100% increase in its userbase in the past month after its rival WhatsApp unveiled a new privacy policy that would see a user’s sensitive data, messages, and phone details to share with its parent company Facebook. Signal Tested a Token on MobileCoin According to Casey Newton, the founder of tech newsletter service Platformer, Signal is exploring to integrate crypto payment into its platform. As per the report, MobileCoin makes it easier for people in developing nations to transfer money. The report revealed that the app was already testing a token on MobileCoin. MobileCoin is a Stellar-based crypto platform that has the backings from Binance crypto exchange. Reportedly, the experiments of the token project were done on MobileCoin, a privacy cryptocurrency based on Stellar, the world’s eleventh largest blockchain by market cap. The app is also said to be working on allowing customers to have unique usernames in place of mobile phone numbers due to privacy reasons. Privacy Coin on Signal Could Lead to Unwanted Regulatory Scrutiny Signal’s CEO Moxie Marlinspike is also an adviser of the MobileCoin crypto platform. This could indeed result in a seamless deployment of the crypto payment platform on Signal. Even though Marlinspike denied the rumors of the integrations as speculations, he did confirm that the firm was carried out tests, labeling them as design explorations. Meanwhile, employees at Signal believe that the integration of a privacy coin on the Signal platform could put the company under unwanted regulatory scrutiny. For instance, Telegram had regulatory issues with the SEC after creating its own cryptocurrency. Even, Facebook’s digital asset was also scrutinized heavily by regulators worldwide. Signal saw growth to over 40 million, up from approximately 20 million in December 2020, as users of rival app WhatsApp moved to the platform amid concerns over a planned privacy policy.
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