Ripple's Xpring Invests 1 Bln XRP into Content Monetization Platform Coil 

Libra Coin News
Thu, 08/15/2019 - 15:26
Alex Dovbnya
Ripple is on a hunt for promising startups to strengthen its ecosystem
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Contents

Xpring, the incubation arm of Ripple, continues the streak of its investments with content monetization startup Coil, which recently received a 1 bln XRP grant (about $265 mln at press time).

In such a way, the San Francisco-based crypto juggernaut wants to streamline the adoption of XRP and Interledger.

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Reading for disruption

Notably, the upstart company is spearheaded by Ripple’s former CTO Stefan Thomas. Along with Ripple, he took part in Coil’s recent seed funding round that amounted to $4 mln. 

Coil offers creators a brand-new way of monetizing their content (apart from advertising and site-by-site subscriptions). It offers its users a $5 monthly subscription that would allow creators to monetize their content on different Coil-supported websites. 

Coil’s API, which is called Web Monetization, is powered by Blockchain-agnostic protocol Interledger.

Creators want more choice and control over how their content is monetized and distributed," said Stefan Thomas, CEO and founder of Coil and co-creator of the Interledger Protocol.

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Ripple’s hegemony

On Aug. 6, Equilibrium Connect, a stealth startup that focuses on the development of tools for Interledger, also made an announcement about receiving an investment from Ripple.

As reported by U.Today, Xpring plans to put $500 mln into 20 companies. The list includes Scooter Braun’s Ithaca Holdings, which turned the A-list celebrity manager into a member of the #XRPArmy.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.