Monetization Platform Coil Pays Content Creators in Stronghold USD
Stronghold integrates with Interledger’s open protocol suite to facilitate real-time payments in Stronghold USD.
Coil, a monetized platform for creators and their fans, has launched its public beta using Stronghold as its off-ramp for users who want to cash out in U.S. dollars.
Coil’s platform is designed to make it easy for creators to monetize content across the internet. As subscribing fans enjoy content on Coil’s publishing platform or on a creator’s own website, Coil uses an open API called Web Monetization to stream micropayments to creators in real time.
Download the Stronghold + ILP white paper (39K PDF)
Download the Stronghold USD white paper (982K PDF)
To power streaming USD payments, we integrated Stronghold’s technology with the Interledger Protocol (ILP), which transfers value across multiple ledgers. Creators who publish on Coil and wish to get paid in dollars simply select Stronghold as their payment pointer when they register for their creator page.
“We’d been evaluating how we could bring ILP compatibility to leverage our efforts to support cross-currency liquidity and cross-ledger settlement,” said Stronghold co-founder Sean Bennett. Working with Strata Labs, he demonstrated a pilot transaction that facilitated XRP over ILP in April.
“It was tremendously rewarding to see these complementary technologies working together in real time,” he added.
Two weeks later, in a panel discussion titled “Payments on the Blockchain,” Stronghold CEO and founder Tammy Camp joined Coil CEO Stefan Thomas and Thomas McLeod, CEO of Omni, to discuss how ILP is redefining speed, security, and efficiency when it comes to moving funds.
Interledger’s open protocol uses connectors that are similar to internet routers; instead of directing data packets, ILP connectors transmit funds across independent payment networks. Multiple connectors can take part in a single transaction — Stronghold’s market order books provide liquidity when the asset sent is different than the one to be received.
Do you create content on the web, YouTube or Twitch? Visit Coil now to create your account, then return to Stronghold and set up your payment pointer so you can get paid in U.S. dollars.
May 30, 2019: Harnessing the Power of Payments on the Blockchain
On Thursday, May 30, Stronghold CEO Tammy Camp will take part in Harnessing the Power of Payments on the Blockchain, a panel discussion and networking event at AWS Loft in New York City; RSVP now to join the conversation.
