How Signal’s crypto project MobileCoin aims to be ‘the global Cash App’

Episode 6 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Josh Goldbard, founder and CEO of MobileCoin.

Tucked away in Signal’s app is a new “Beta” feature that allows users to send payments between each-other seamlessly.

It’s powered by a crypto project called MobileCoin.

On this episode of The Scoop, MobileCoin founder and CEO Josh Goldbard joined Frank Chaparro to explain how MobileCoin is trying to blend encrypted messaging and payments to make global money transfers easy. Goldbard and Chaparro explore the increasingly dynamic environment for payments, which has diverse firms from Walmart to Facebook to Jack Dorsey’s Cash App competing for mindshare and transactions.

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“What we’re building is the global Cash App. The global Cash App that allows you to move money in and out at the velocity of the internet,” Goldbard described of the project.

“What we want to make here is the last payment rail,” he added. “What makes it the last payment rail is that it is the lowest friction, highest priority, easiest to use payment technology ever made.”

In this episode we also explore:

  • What raising venture capital is like in a frothy venture environment
  • Goldbard’s game-plan to recruit top engineers
  • Why Signal decided to partner with MobileCoin
  • How Goldbard poached Cash App’s founding CTO Bob Lee

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