Matrix uses the same encryption protocol but is also federated, which is nice.
That said, we've tried to architect it such that we could implement compatibility with Signal if Moxie and OWS were ever open to it. But it looks like we'll need to first prove that Matrix can support a rapidly evolving yet federated ecosystem without compromising UX or privacy :)
It doesn't have end to end encryption support yet, but they're working on it.
1: https://play.google.com/store/apps/details?id=im.vector.alph... 2: https://itunes.apple.com/us/app/vector.im/id1083446067