According to a recently published press release, Coil – a platform that allows content creators to monetize their work – now supports XRP and allows content creators to get paid using the market’s third-largest cryptocurrency.
This is made possible via a partnership between Coil and GateHub Ltd, a payment gateway and XRP Ledger wallet provider. The content creators will also be able to receive these funds in real-time.
With this partnership, creators on the Coil platform can get their payments in XRP and easily convert to other currencies. Supported currencies including fiat and crypto are EUR, USD, BTC and ETH as well. GateHub will also allow these persons to withdraw EUR or USD, to their traditional bank accounts.
According to Coil CEO, Stefan Thomas:
“Our integration with Gatehub provides creators with the ability to withdraw their web monetized earnings to any European bank account. This makes it much easier for creators and developers across Europe to experiment with and use Interledger and Web Monetization.”
The Coil platform supports all kinds of content including literary writing, journalism, music, photography, podcasts, drawings, paintings and many more. The platform is powered by Interledger and can already boast of about 50,000 visitors a month, viewing millions of content by these creators.
The CEO of GateHub, Enej Pungerčar, has also expressed some excitement about the new partnership:
“Money streaming is here! With a bright future ahead for Web Monetization and a growing interest in the Interledger Protocol, we are writing a new chapter with Coil. This is the start of a great partnership. Together we will bring this technology to a broader audience.”
Coil was founded by ex-Ripple CTO, Stefan Thomas, and launched its public beta a few months ago in May, to support content creators and give them full rights and earning power, over their content.
People are free to sign up to Coil and pay a monthly subscription fee of $5. When subscribers access content, Coil immediately channels a percentage of the subscription to the authors in real-time, via the Interledger Protocol.