In a recent shift at the helm, MobileCoin, renowned for its privacy-centric payments capabilities, has promoted its Chief Technology Officer, Sara Drakeley, to the role of Chief Executive Officer. Drakeley comes adorned with a significant background, having previously served at titans such as SpaceX and Disney Animation Studios. A figure distinctively poised to bolster MobileCoin’s expansive aspirations and product portfolio, she brings a zealous mission of enabling swift, transnational, peer-to-peer payments for both businesses and individuals.
Steve Jurvetson, a MobileCoin board member and co-founder of Future Ventures regards Drakeley as the linchpin for the forthcoming age of payment systems. Concurrently, Henry Holtzman has been slotted in as the new CTO for MobileCoin, bringing on board his par excellence expertise from roles at MIT Media Lab and Samsung.
Infused with the vision of global expansion, the press release outlined the company’s key strategies, one of which is to extend its foothold in regions exhibiting strong cryptocurrency usage, such as Africa and Latin America. A critical stance echoed by Drakeley pinpoints the inefficiencies of the antique payment infrastructures, terming the delayed transaction speeds as “unacceptable” in this epoch of swift technological accomplishments.
MobileCoin, coming off the launch of a beta version of its payment solution on the end-to-end messenger Signal in 2021, uses the Stellar (XLM) Consensus Protocol to align ledgers. The integration equipped Signal users to smoothly transact, check balances, and scrutinize transaction history encompassing MobileCoin’s MOB token, while maintaining an anonymous profile.
Moby, a recent addition to MobileCoin’s sprawling offerings, is an intuitive payment app promising transaction completion in less than five ticks of a clock. Upon entering a phone number and the transaction amount, the senders are now just a tap away from transacting funds. The uniqueness of Moby lies in its non-custodial nature, ensuring its users a cash-like privacy level.
Drakeley was reported revealing to TechCrunch that Moby’s appeal stems from its low energy consumption, eventually striking a chord in countries with significant remittance inflow such as Mexico, Nigeria, and the Philippines.
With the backing of BlockTower Capital, Coinbase Ventures, Binance Labs, and TIME Venture, MobileCoin is a considerable force in the digital realm. The platform announced a hefty fundraising round of 30 million in 2018, guided by Binance Labs, followed by another inflow of USD 11.35 million from Future Ventures and General Catalyst. The MOB token has experienced fluctuating fortunes, with its price charting at $0.53, unlocking an incline of nearly 1% in 24 hours and a week, albeit a decrease of roughly 20% over a month.
Source: Cryptonews
