Patents Prove Signal and MobileCoin are a Good Match

Secure messaging platform Signal is beta testing a peer-to-peer payment system on its app. The system supports the MobileCoin coin and wallet protocol, which makes sense when you consider Signal’s reputation for privacy and security. MobileCoin has two cryptocurrency patents, one of which is for preserving privacy of participants in authenticating proof of membership. The other is for a transaction system that also emphasizes privacy and allowing users to control their own data. Signal cited these features in its announcement, saying that MobileCoin’s system also keeps user and transaction data separate from Signal itself. 

In March of 2021, MobileCoin raised $11M in a Series A round, bringing its total funding to $40M. Part of the funding was due to MobileCoin’s known relationship with Signal, whose co-founder has advised the payments company. MobileCoin has made its differentiation clear in its patent filings, and a successful integration with Signal will likely lead to future opportunities. You can keep track of this company and more by following the Cryptocurrency Patent Forecast®.