Digital payment platform Uphold announced a partnership with web monetization provider Coil utilizing the Interledger Protocol.
Digital payment platform Uphold has announced a partnership that allows Coil creators to be able to select the platform as their wallet provider to receive payments in over 50 currencies.
Coil is a service that provides alternative methods for content producers to monetize their work online. “The ability to pay for [their] app subscriptions, news articles, or premium experiences with zero-clicks and in real time feels like the future,” said Robin O'Connell, Chief Revenue Officer (CRO) at Uphold.
The partnership with Coil will utilize the Interledger Protocol and allow creators to accept payments in more than 50 fiat and digital currencies and enable bank connectivity from over 34 countries.
O’Connell added that the company is “uniquely positioned to provide partners like Coil the ability to bridge old and new money systems while offering a seamless payment settlement for its creators.”
Coil integration with WordPress
Coil choosing Uphold as its wallet provider comes at the same time the platform unveiled the Coil Web Monetization plugin, allowing WordPress publishers and creators to monetize their content. Creators utilizing the plugin are able to implement ad-free experiences and premium content requiring subscriptions to view.&
Coil Founder Stefan Thomas said the plugin would provide “more freedom of choice and less friction” for Wordpress creators by creating a new revenue stream. At the same time, consumers would be free of the “subscription fatigue and the invasive privacy issues associated with ads.”
According to an W3techs survey in April, over a third of the content on the entire web is published using WordPress software.
Expanding payment options
Uphold has been giving its users more options to pay with crypto and fiat currency. A digital money platform serving more than 2 million customers, the platform has been responsible for more than $6 billion in transactions across 184 countries since its launch in 2015.
Cointelegraph reported on the platform’s debit card released in March, which allows users to pay with converted crypto, commodities and cash. Uphold also recently announced the expansion of its stablecoin offerings in its portfolio, including Tether (USDT), TrueUSD (TUSD), USD Coin (USDC) and DAI.