Focused on monetizing content startup Coil has received a grant of 1 billion XRP from Ripple's ecosystem Xpring.
The donation will reportedly be deployed towards driving adoption of XRP and the Interledger Protocol (ILP) by growing Coil's monetization platform.
Stefan Thomas, the CEO and Founder of Coil, claims creators want more choice and control over how their content is monetized and distributed.
"Web Monetization provides a solution that is more fair, open and inclusive for creators and fans around the globe. This initiative will help us level the playing field for creators by providing a better way to support content across the web," he added.
Earlier Ripple's investment initiative issued a report according to which, the initiative committed $500 million in support of over 20 companies.
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