If you are using the beta version of Signal and you live in the UK, you will see a new Signal payments section when you have updated to the latest version. You can link your MobileCoin wallet so that you can send cryptocurrency funds to your friends and family. You can also receive funds from them and keep track of your current balance and transaction history. You can top up your MobileCoin wallet by shopping on the FTX cryptocurrency exchange.
Since Signal puts a lot of money (heh) on privacy, the payment section is private too. MobileCoin itself is also a privacy-focused service, so all your data is at your fingertips. Signal will not have access to details such as your balance, complete transaction history, and your funds. And if you want to transfer your funds to another app or service, you can easily do so as you are not locked in Signal Payments or MobileCoin.
Cryptocurrency is still something that is getting mixed reactions from the public, so Signal adding this payment option may affect the goodwill they’ve garnered from the public, depending on how it goes. They have earned their good reputations for their encrypted service, but any mistakes made in this Signal Payments feature, especially privacy, could backfire on them. But if they can also add end-to-end encryption to it, that could secure their users.
Although for now Signal payments it is still in beta in the UK. They plan to expand it to other countries as soon as they receive feedback from their current beta users.