Coil, a content monetization platform partners with GateHub in order to develop a new deposit method for funds and to pay the content creators with the real-time XRP.
Coil is a platform for content and web monetization and was founded by Stefan Thomas, who is also the former Chief Technology Officer of Ripple’s company. While GateHub is an XRP Ledger wallet and a gateway that allows users to send, receive and trade their assets and also has the XRP Ledger Protocol.
A recent press news, published on 1st Oct, states that a partnership agreement has been signed between the Coil platform and GateHub.
🙌EXCITING NEWS🙌: A much-awaited announcement is here!@GateHub is partnering with @Coil to enable content creators to monetize their websites and get paid in real-time. 🎉#WebMonetization #Interledger #XRP #XRPcommunity #cryptocurrency https://t.co/fgDDp5JzAw
— GateHub (@GateHub) October 1, 2019
In the press release, the CEO of GateHub Enej Pungercar says:
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.
The main purpose of this partnership is to introduce a new deposit method which is known as the inter ledger deposit method and it will be used on the Coil monetization platform.
Coil platform now will use this new deposit method to pay the users for their web monetization and the users will have the opportunity to monetize their work and get paid with the real-time XRP.
The content creators on the platform of Coil will also have the facility to convert their XRP into BTC, ETHER or in the fiat currencies like Euros, dollars, etc.
Stefan Thomas says while celebrating this partnership:
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 platform allows the creators of any type on the platform such as writer, video makers, artists, musicians, photographers, etc.
Coil platform has already received an amount of 1 billion XRP from the company of Ripple in August which initiated their collaboration.
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