XRP Adoption Intensifies: Ripple Invests 1 Billion XRP Into Web Content Platform Coil
Ripple has been in the spotlight a lot this year, and the San Francisco-based company has been intensively promoting its products. Ripple boosted the entire XRP ecosystem as well.
XRP also marked a huge success during these past few days.
FCA published its final guidance defining which crypto asset activities it regulates.
It lists XRP alongside Bitcoin and Ethereum, which have both been declared by the agency as exchange tokens – not securities.
Now, Ripple’s investment arm, Xpring gives 1 billion XRP to the decentralized web content monetization platform Coil.
Accelerating XRP and ILP adoption
The platform’s main focus is to offer online publishers enhanced control over their work and allows fans to reward content creators in crypto and fiat.
According to the official announcement, the grant will go toward accelerating the adoption of XRP and the Interledger Protocol (ILP).
You may recall that ILP is an efficient method of routing payments across different ledgers.
“Coil will use the 1 billion XRP to build an ecosystem of creators, developers, companies and nonprofits that are using XRP through the Web Monetization open standard. A portion of the commitment will also be used to help build awareness of Coil among creators, consumers and strategic partners,” according to the official announcement.
Disrupting traditional advertising
Senior vice president of Xpring Ethan Beard believes that traditional ways of advertising and website subscriptions can be finally disrupted.
He also said that the speed of XRP made it perfect for Coil users.
He added that XRP is able to help the Coil platform provide an alternative way to monetize content while also having a positive impact on creators.
“At Xpring, we build infrastructure and support projects that enable the Internet of Value and increase the utilization of XRP.”
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.