Gatehub, a well known XRP Ledger wallet and gateway, started collaborating with Coil.
This is according to an official post by Gatehub on Oct 1, 2019. Coil is a content monetization platform. The goal of this partnership is to enable a new inter ledger deposit system and allow content creators to earn from their websites.
Besides, users will be able to make all payments in real-time. The wallet protocol has identified the need for cooperation to facilitate the future of web monetization. GateHub has designed a means of rewarding creators using crypto.
Gatehub’s CEO, Enej Pungerčar, commented on the partnership. He said: “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”.
Gatehub’s original design was for XRP. However, currently, it serves as a wallet for several other cryptos. All creators on the coil platform will receive funds in XRP. Then, they will be able to convert it to EUR, USD, BTC and ETH.
Gatehub and Coil geared toward crypto adoption
Founded by Stefan Thomas, former CTO of Ripple, Coil aims to create a better business model for the web. Creators can use it to easily monetize their content on the internet. When people enjoy the content, Coil uses Web Monetization to enable micropayment in any currency.
The platform is open for all kinds of creators, such as writers, video creators, podcasters, live streamers, musicians, photographers, and artists.
Thomas expressed joy about this recent partnership. He said: “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.“
It is quite important to note that in August, Coil received a 1 billion XRP grant from Ripple.
Find out how to receive funds here