This week Ripple invested 265 Million dollars worth of XRP into Coil. This investment was 5 times larger than the one made into Money Gram. Coil technology was invented in house at Ripple by Ripple employees.
Records online show Coil is currently working with companies like Visa, MasterCard, Facebook, Samsung, Amazon, Mozilla, Goodle, Apple and many more.
Emails between Stephan Thomas (CEO of Coil), Evan Schwartz (Co-Architect of ILP) and Bob Way (Ripple Integration Architect) show micro payments are useful not only for sending very small transfers of value but also very large ones.
Many Thanks to Oz Crypto, Stephen Chip, Myrone Bagalay and Sam I Am for helping me work threw this.
The Birth of COIL: Ripple Email Thread:
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