By
Temitope Olatunji
April 18th, 2024
MobileCoin token (MOB) is viewed as one of the most secure crypto assets with high transaction speed and it is also fully environmentally-friendly.
The privacy-oriented crypto project MobileCoin mainnet has gone live with its native coin MOB listed on FTX exchange. The company announced through its Medium blog page, although with scanty information.
Notably, MobileCoin Foundation noted that its crypto wallet will not be available for download or use in the United States and any other jurisdictions with prohibitions. “Please note that the MobileCoin Wallet is not available for download or use by US persons or entities, persons or entities located in the US, or persons or entities in other prohibited jurisdictions,” the blog post indicated.
Being a crypto project that is focused on the customer’s data privacy, its use was bound to be prohibited in some jurisdictions that closely monitor people’s money transactions.
MobileCoin token (MOB) is dubbed one of the most secure crypto assets, with fast transaction speed and also environmentally friendly. According to the market data provided by CoinGecko, the MOB token was trading around $5.81, having added approximately 18.04% in the past 24 hours. Additionally, its past 24-hour trading volume stands at $1,146,756, despite not having data on its market capitalization nor its total circulating supply.
MobileCoin has partnered with major market players including Microsoft Azure and also receives advice from Signal founder, Moxie Marlinspike.
MobileCoin (MOB) Project
MobileCoin was created back in 2017 by Josh Goldbard to offer secure crypto payments through messaging apps including Whatsapp and Signal. With several crypto projects already offering privacy-based services, MobileCoin developers needed an extra niche to put it ahead of its competitors. As a result, the company relooked into blockchain technology to scale its privacy capabilities.
In addition to the blockchain technology, MobileCoin announced it will be using Microsoft Azure confidential computing to protect cloud data while in use. Apparently, with Azure confidential computing based on Intel SGX–enabled virtual machines, the privacy could be enhanced by making the network blind for third parties.
Shane Glynn, Cofounder and General Counsel at MobileCoin noted that “Microsoft has put an enormous amount of technical effort into making the Intel SGX offering and supporting it, and Azure has been a pleasure to work with.”
MobileCoin has tremendously grown since its inception and has been involved in private funding to source extra capital. One year after its creation, the company announced a $30 million round via a Securities and Exchange Commission (SEC) filing, under a simple agreement for future tokens (SAFT).
With committed developers, market partners, and rich cash reserves, MobileCoin is capable of growing through the ongoing global crypto adoption to become a leader in its field. Furthermore, it is bringing onboard a extra utility that will make it competitive thus attracting more users into the industry.