Bitcoin Daily: Signal Messaging App Testing Crypto Payments; Gemini Adds 20 Tokens To Exchange; SIA, WizKey Partner For Credit Market Based On Blockchain

Signal Messaging App Testing Crypto Payments

Signal is exploring the idea of adding cryptocurrency payments into its messaging app by integrating MobileCoin, a cryptocurrency supported by the Stellar blockchain, Platformer reported.

MobileCoin complements the privacy-focused app in that it is “more resistant to surveillance,” according to a 2017 Wired report.

Signal CEO Moxie Marlinspike “played down,” the cryptocurrency developments, telling Platformer it was only some “design explorations.”

“If we did decide we wanted to put payments into Signal, we would try to think really carefully about how we did that,” Marlinspike said, according to Platformer. “It’s hard to be totally hypothetical.”

Signal is also looking to build up its privacy provisions by allowing users to create unique usernames, rather than being identified by their mobile phone number, Platformer reported.

In other news, European FinTech SIA is partnering with WizKey to create a platform to allow credit negotiations on blockchain for banks, financial operators and funds, according to a press release.

The partnership aims to create a secondary credit market that is transparent and efficient and makes it easy to manage credit and digitally store documents, loan history and due diligence activities, preventing “information asymmetry risks,” the release stated.

“The main objective of this project launched together with WizKey is to support banks in managing credits, especially non-performing ones, in a standardized and secure manner in line with the indications of European regulators,” said Daniele Savarè, director of Innovation & Business Solutions at SIA, in the release.

Meanwhile, the Philippines’ Monetary Board (MB) approved a new set of guidelines for virtual asset service providers (VASPs) that expands virtual currency exchange (VCE) regulations set in 2017, according to a press release.

“We have seen accelerated growth in the use VCEs in the past three (3) years and it is high time that we broaden the scope of existing regulations in recognition of the evolving nature of this financial innovation and set out commensurate risk management expectations,” said Benjamin E. Diokno, Philippines’ Central Bank (BSP) governor in the release.

The guidelines expand to include virtual asset transfers and exchanges, as well as virtual asset storage and management in BSP’s licensing requirements and regulations, including its anti-money laundering (AML) and countering the financing of terrorism rules.

The MB noted that the new framework clarifies that virtual asset transactions should be treated as cross-border wire transfers, and VASPs must comply with BSP’s wire transfer regulations, the release stated.

Lastly, Gemini has added 20 new tokens to its crypto exchange, according to CoinDesk, as well as support for the Singapore dollar.