Ripple-Backed Web Monetization Platform Coil Now Supports XRP

Published at: Oct. 2, 2019

Web monetization platform Coil now supports XRP payments in real time thanks to a partnership with payment gateway and XRP Ledger wallet provider GateHub.

A news release published on Oct. 1 revealed that Coil users can now use GateHub to receive funds in XRP and convert them into euros, United States dollars, Bitcoin (BTC) and Ethereum (ETH). 

Real-time micropayments for content creators

Coil is a platform that provides an alternative method for creators to monetize their content online.

As subscribing fans consume content, the platform uses an open API called Web Monetization to stream micropayments to creators instantaneously.

The API is built on the Interledger Protocol, co-created by Stefan Thomas, Coil CEO and former Ripple chief technology officer.  

As Cointelegraph reported on Aug. 15, Ripple’s investment arm, Xpring, also participated in Coil’s $4 million seed round and provided a 1 billion XRP grant to the platform this August — worth roughly $265 million.

Coil supports monetization for content creators across literary writing, journalism, music, photography and podcasts, charging content consumers a $5 monthly subscription fee to access the site.

A push for decentralized content monetization

On Sept. 17, Coil and open-source browser Mozilla teamed up with Creative Commons — a nonprofit that provides free licenses for creators — to establish a $100 million grant program for web monetization.

The program offers a series of $1,000 to $100,000 grants to developers and creators who support web monetization, with a plan to reserve the lion’s share of the funds for openly licensed software and content.

Also in September, Ripple’s Xpring has acquired payments platform Logos Network to develop decentralized financial products and applications.

Tags
Decentralization
Blockchain
Ripple
Related Posts
Hosting a CBDC? Only one of Bitcoin, Ethereum or XRP can do it, says report
A 44-page report commissioned by CPA Australia delves into the status of central bank digital currency development worldwide, while exploring viable blockchain candidates for hosting CBDCs in the coming years. The report offers up evaluations of the three most transacted cryptocurrencies — Bitcoin (BTC), Ether (ETH) and XRP — and analyses their suitability (or lack thereof) for use by central banks. Bitcoin’s decentralized network and lack of oversight by banks or governments make it generally unsuitable for use in a national CBDC network, notes the report. Although Bitcoin is still accepted as a medium of exchange the world over, its …
Decentralization / March 8, 2021
Japanese esports company to pay its players in XRP
SBI esports, a subsidiary of Japanese financial services conglomerate SBI Group, announced that its esports players would receive salaries in Ripple (XRP) going forward as part of a sponsorship deal with venture capital firm, VC Trade. According to the official announcement, player salaries will be paid via crypto instead of fiat in order to strengthen the company’s presence among esports players who also use digital currencies. SBI esports, which is a long-time Ripple partner, said that this sponsorship deal is a way to diversify its portfolio within the blockchain industry. Their goal is to “create and nurture a healthy market …
Decentralization / Sept. 30, 2020
Pantera Capital Leads $5M Seed Round of Decentralized Derivatives Startup
Pantera Capital has led a $5 million strategic seed round of decentralized derivatives protocol Vega. According to an announcement published on Oct. 3, the round included participants such as Ripple’s investment arm Xpring, Hashed, NGC Ventures, gumi Cryptos Capital, Rockaway Blockchain, KR1, Eden Block, Focus Labs, Greenfield One, Monday Capital, RSK Ecosystem Fund, and a group of unnamed private investors. Against “profiteering, monitoring and control” Vega is currently focused on designing and implementing its core protocol for secure and non-custodial decentralized margin trading. The software aims to disintermediate derivatives trading — eliminating the “rent-seeking middlemen endemic to traditional capital markets” …
Decentralization / Oct. 3, 2019
European Union Launches International Association of Trusted Blockchain Applications
The European Union announced the launch of the International Association of Trusted Blockchain Applications (INATBA) on its official website on April 3. According to a Cointelegraph representative who attended today’s ceremony at the European Commission in Brussels, the more than 100 members who have signed the charter include IBM, Accenture and Deutsche Telekom. Among the blockchain-related members number Iota, Ripple, ConsenSys, and the Sovrin Foundation. Per the announcement, INATBA aims to bring together industry startups, small and medium enterprises (SMEs), regulators and standard setting bodies to bring blockchain and distributed ledger technology (DLT) into the mainstream. During the Brussels ceremony, …
Decentralization / April 3, 2019
What are the most bullish cryptocurrencies to buy right now? | Find out now on The Market Report
The Market Report with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss what they believe are the top three most bullish coins one should take a closer look at. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as each makes his case for the most bullish cryptocurrency right now. …
Decentralization / May 3, 2022