Coil Platform gets 1 billion XRP from one of Ripple's companies

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One of the Ripple's infrastructures and adoption initiatives, Xpring, has given a 1 billion XRP (about $265 million) grant to a Coil Platform.

Distribution and monetization

Coil platform will enable the creators an alternative way to monetize content on the Internet. The users will be able to publish their content on the platform, which will automize micropayments to creators. This way, the creators can monetize their websites by adding a single tag. Platform's CEO, Stefan Thomas, commented:
The creators want more choice and control over how their content is monetized and distributed. Web Monetization is a more open and fair solution for creators and fans all over the world.

Coil Platform - how does it work?

Coil Platform uses an open API, called Web Monetization, for payments in real-time. Web Monetization is built on the so-called Interledger Protocol, co-created by Stefan Thomas, who also used to be a CTO at Ripple. Xpring, belonging to the Ripple company, took part in the $4 million seed round for Coil Platform. If everything goes well, Coil will be able to start working right away. One of the experienced crypto-traders believes that XRP will fall over 20%. He also accuses Ripple of manipulating XRP's price.

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