Ripple Xpring, an investment subsidiary, has provided 1 billion XRP Coil, a micropayment platform for content creators.
1 billion XRP for the Coil platform
"Excited to announce a 1 Billion XRP grant from Xpring Ripple! This accelerates our efforts to level the playing field for creators by providing a better way to support content across the web." – Coil Twitter.
Interesting in the section: xRapid payment system. Cryptocurrencies and banking
A grant worth about $262 million at today's price will be used to improve Coil's business model by simplifying content monetization using the Interledger Ripple protocol, which allows for streaming micropayments.
"Modern monetization models are broken and targeted at large companies that can collect and sell user data, as well as advertise on their platforms," – said Ethan Beard, vice president of Xpring.
Coil’s goal is to make it easy for content creators like journalists and video creators to monetize and distribute their content over the Internet. The platform also raised $4 million in the initial round of financing with Xpring.
Coil's content platform received a 1 billion XRP grant from Ripple. Recall, a popular trader and analyst, Tone Vays, called the Ripple cryptocurrency "fraudulent".
Editor: Yuliya Soroka