Jack Dorsey, former Twitter CEO and outspoken Bitcoin advocate, has publicly urged Signal Messenger to integrate Bitcoin for peer-to-peer (P2P) payments.
“Signal should use Bitcoin for P2P payments,” Dorsey posted on April 9 in response to Bitcoin developer Calle, who suggested that Bitcoin aligns perfectly with Signal’s mission of private, secure communication.
Dorsey’s call was echoed by David Marcus, former president of PayPal and current CEO of Lightspark, who stated that “all non-transactional apps should connect to Bitcoin.”
Bitcoin Advocates Push to Reposition BTC as a Payment Tool, Not Just Digital Gold
The comments reflect a growing sentiment among Bitcoin advocates to reposition BTC not just as a store of value, but as a practical payment tool.
Dorsey, who also co-founded the financial services company Block (formerly Square), has long maintained that Bitcoin’s utility in daily transactions is essential for its long-term success.
Signal, launched in 2014, is known for its end-to-end encrypted messaging and calls.
The app currently supports in-app payments using Sentz, formerly known as MobileCoin (MTCN), an ERC-20 token that emphasizes privacy and speed.
Sentz was rebranded in late 2023 and is backed by investors such as BlockTower Capital and Coinbase Ventures.
However, Signal’s choice of MobileCoin sparked controversy when it was first introduced in 2021.
Critics questioned the transparency of the project, alleged connections between Signal’s leadership and MTCN, and irregularities in the token’s price movements ahead of the integration.
Despite Bitcoin’s foundational role as a peer-to-peer payment system, many popular platforms—including Signal, Telegram, and X—have leaned toward integrating or developing their own altcoins.
Telegram has been actively promoting Toncoin, while Elon Musk has repeatedly denied plans to launch a native token for X.
Venture Capital Backing For Crypto Payment Services on the Rise
Last month, crypto payment firm RedotPay closed a $40 million Series A funding round, led by Lightspeed with key investments from HSG, Galaxy Ventures, and other prominent investors including DST Global Partners, Accel, and Vertex Ventures.
RedotPay’s funding round came shortly after crypto payments firm Mesh raised $82 million in a Series B funding round to expand its blockchain-based settlement network globally.
The round was led by Paradigm, with participation from ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna, and AltaIR Capital.
Notably, most of the investment was settled using PayPal’s PYUSD stablecoin, highlighting the growing role of stablecoins in financial transactions.
Venture capital firms are increasingly backing projects focused on stablecoin services and financial infrastructure.
The sector’s potential was further underscored by payments giant Stripe’s acquisition of stablecoin platform Bridge for $1.1 billion last year, signaling strong institutional interest in blockchain-based financial solutions.
In April, Fintech giant Stripe announced its decision to once again allow customers to accept cryptocurrency payments after a six-year break.
Aside from Stripe, other payment companies have also adopted stablecoins as a means of payment.
More recently, Singapore-based payments company Triple-A announced plans to integrate PayPal’s stablecoin into its list of supported tokens for customer payments.
The post Jack Dorsey Urges Signal to Adopt Bitcoin for P2P Payments, Ditch Altcoins appeared first on Cryptonews.
Credit: Source link
