App Annie, Cryptocurrency, Facebook, FTX Exchange, MOB, Mobilecoin, Moxie Marlinspike, Platformer, Sensor Tower, Signal, Signal Messenger, Stellar, Stellar Blockchain, Stellar XLM, Telegram, trading, WeChat, WhatsApp, XLM

One of the most popular privacy-centric messaging applications Signal has seen explosive growth during the last two months over things like the Whatsapp acquisition and the recent Big Tech censorship. According to a number of reports, the company has been experimenting with monetization and more recently Signal has been reportedly testing the crypto network Stellar.

The mobile company called App Annie detailed at the end of 2020, Signal had around 20 million active users a month. Following the announcement that Facebook was acquiring Whatsapp and changing its privacy terms, there’s been a mass exodus toward privacy-centric messaging apps like Telegram and Signal.

News.Bitcoin.com reported on Telegram’s colossal growth recently surpassing 500 million active users. Data from Sensor Tower details that alongside Telegram’s swelling, Signal saw the privacy messaging app downloaded 7.5 million times in four days between January 6 and January 10.

A few reports this week have disclosed that Signal is experimenting with cryptocurrencies and may even introduce its own coin. The tech newsletter called Platformer said that Signal was toying with a Stellar derivative called Mobilecoin, which is a token built using the Stellar blockchain.

Moxie Marlinspike the CEO of Signal, was once an advisor for the Mobilecoin project. However, according to the recent Platform report, Signal employees are leery of adding a cryptocurrency and have said that it could cause unwanted regulatory scrutiny.

For instance, Telegram had regulatory issues with the U.S. SEC after creating its own cryptocurrency and Facebook’s digital asset was also scrutinized heavily. Other messaging apps like China’s Wechat already leverages crypto asset payments. Still, a few employees and former Signal staff members are not impressed by the move.

“The world needs products like Signal but they also need Signal to be thoughtful,†Gregg Bernstein, a former Signal researcher explained to the Platformer.

At press time, stellar (XLM) is the 12th largest blockchain in terms of market cap, and is swapping for $0.24 per unit on Wednesday. Data from Coingecko shows that mobilecoin (MOB) token is exchanging hands for $3.55 per unit, and is up 12% today while most coins are down.

There’s currently $1.3 million in 24-hour MOB global trade volume today with FTX Exchange’s MOB/USDT and MOB/USD markets dominating.

What do you think about Signal possibly adding a cryptocurrency and experimenting with the Stellar blockchain? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

RELATED NEWS

Coinbase Files for IPO via Direct Listing on Nasdaq — Valuation Soars Above $100 Billion

Cryptocurrency exchange Coinbase has filed for an initial public offering with the U.S. Securities and Exchange Commission (SEC). The company has chosen the direct listing route and has applied for its shares to be listed on Nasdaq. Coinbase filed Form S-1 Registration Statement for its IPO with the SEC on Thursday. The company revealed in […]

Xem chi tiết: Coinbase Files for IPO via Direct Listing on Nasdaq — Valuation Soars Above $100 Billion

Report: Asia’s Cryptocurrency Landscape the Most Active, Most Populous Region ‘Has an Outsize Role’

Recently, Messari Crypto Researcher, Mira Christanto published a report that looks into Asia’s cryptocurrency landscape in-depth, as 60% of the world’s population resides in the region. Christanto’s study shows that six out of the top ten largest cryptocurrency unicorns are located in Asia. Moreover, 98% of ethereum-based futures and 94% of bitcoin futures volumes stem […]

Xem chi tiết: Report: Asia’s Cryptocurrency Landscape the Most Active, Most Populous Region ‘Has an Outsize Role’

Nigerian Vice President Yemi Osinbajo Contradicts Central Bank, Says Cryptocurrencies Must Regulated and Not Prohibited

In an apparent rebuke of the Central Bank of Nigeria (CBN), the Vice President of Nigeria Yemi Osinbajo says the country’s monetary authorities must consider regulating crypto assets. He adds that instead of “killing the goose that might lay the golden eggâ€, Nigerian monetary authorities must consider providing a “robust regulatory regime†that addresses their […]

Xem chi tiết: Nigerian Vice President Yemi Osinbajo Contradicts Central Bank, Says Cryptocurrencies Must Regulated and Not Prohibited

Central Bank of Nigeria Governor Defends Decision to Exclude Crypto Players, Says the Order Is ‘in the Best Interests of Nigerians’

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has defended the apex bank’s decision to exclude cryptocurrency transactions from the banking ecosystem. In his testimony before the Nigerian Senate, Emefiele claimed that the February 5 directive is “in the best interests of Nigerians.†Crypto Not Money Immediately following the announcement of the […]

Xem chi tiết: Central Bank of Nigeria Governor Defends Decision to Exclude Crypto Players, Says the Order Is ‘in the Best Interests of Nigerians’

Coinbase Files for IPO via Direct Listing on Nasdaq — Valuation Soars Above $100 Billion

Cryptocurrency exchange Coinbase has filed for an initial public offering with the U.S. Securities and Exchange Commission (SEC). The company has chosen the direct listing route and has applied for its shares to be listed on Nasdaq. Coinbase filed Form S-1 Registration Statement for its IPO with the SEC on Thursday. The company revealed in […]

Xem chi tiết: Coinbase Files for IPO via Direct Listing on Nasdaq — Valuation Soars Above $100 Billion

Binance Suspends Ethereum and ERC-20 Token Withdrawals Before Quickly Reversing Course

The rollercoaster-ride in cryptocurrency prices on Monday was accompanied by Binance’s fresh restrictions for ethereum and ERC-20 tokens. Ethereum Network Congestion Fingered as the Culprit for the Temporary Halt Through the official Binance Twitter account, one of the world’s largest cryptocurrency exchanges by volume, announced that it had “temporarily suspended withdrawals of $ETH and ethereum-based […]

Xem chi tiết: Binance Suspends Ethereum and ERC-20 Token Withdrawals Before Quickly Reversing Course

‘Bitcoin Is the Biggest Jailbreak in Human History,’ Says Philosopher Stefan Molyneux

On February 19, the Canadian podcaster and Freedomain Radio host, Stefan Molyneux, discussed his thoughts about bitcoin following the crypto asset’s tumultuous rise capturing over a trillion-dollar market valuation. Molyneux’s recent speech describes the liberating potential bitcoin could bring to the masses and how the crypto network has the ability to change humanity for the […]

Xem chi tiết: ‘Bitcoin Is the Biggest Jailbreak in Human History,’ Says Philosopher Stefan Molyneux

Bitcoin’s Watershed Moment- Crypto Asset Commands a $1 Trillion Market Capitalization

Bitcoin’s market capitalization has crossed the $1 trillion zone after the price per coin surpassed $53,650 per unit. The valuation comes 145 months after the launch of the Bitcoin network on January 3, 2009. ‘The First Trillion Is the Hardest’ The price of bitcoin (BTC) has surpassed the territory needed to have a $1 trillion […]

Xem chi tiết: Bitcoin’s Watershed Moment- Crypto Asset Commands a $1 Trillion Market Capitalization

As Millions Drown in Today’s Poverty Trap, Macro Strategist Raoul Pal Says ‘Bitcoin Is a Life Raft’

Pionex Is a Crypto Exchange With Built-in Automated Trading Tools You Can Trust

Survey Finds Many Finance Managers Are Not Planning to Hold BTC— Volatility Cited as Key Concern

Blockchain.com Raises $120 Million in a Strategic Financing Round, Firm’s Institutional Arm Swells

Privacy Coin Verge Suffers Third 51% Attack, Analysis Shows 200 Days of XVG Transactions Erased

Blockchain Firm Asks Nevada State for Permission to Build a Crypto ‘Smart City’ in Storey County

Bluezelle is Resisting Censorship with a New Developer Grant: Interview with Neeraj Muraka

Nigeria Crypto Ban: Stakeholder Body, Politicians Assail Central Bank’s Directive to Financial Institutions

Other Articles