SAN FRANCISCO, May 19, 2020 /PRNewswire/ -- Coil, the company dedicated to building a better business model for the web, today unveiled the Coil Web Monetization plugin, providing publishers and creators on WordPress with an alternative and additive way to monetize their free and premium content. Coil also introduced its newest wallet provider, Uphold, enabling payouts in more than 50 currencies, and in the U.S., access to Uphold's new debit card payout feature.
"Now, more than ever, publishers and individual creators are seeking new revenue streams," said Stefan Thomas, Founder and CEO of Coil. "At the same time, consumers are suffering from site-by-site subscription fatigue and the invasive privacy issues associated with ads. With the introduction of the Web Monetization plugin and more payout options for publishers and creators around the globe, our goal is to provide more freedom of choice and less friction for everyone."
Developed in partnership with leading WordPress agency Pragmatic, the plugin makes it easy to web monetize an entire site with a few clicks. Once enabled, Coil streams payments to the publisher's wallet as Coil Members enjoy content, while preserving users' privacy. Publishers and creators looking to maximize their revenue potential can also use the plugin to implement special features for members, including ad-free and premium content experiences. The open source plugin is intentionally designed to be interoperable with other Web Monetization service providers, providing publishers and creators with more freedom of choice now and in the future.
With Coil's newest wallet provider, Uphold, creators will enjoy an intuitive setup experience and more payout options. Uphold offers access to over 50 currencies with bank connectivity in more than 35 countries, expanding Coil's ability to serve more creators and publishers around the world. Creators in the U.S. who select Uphold as their wallet provider will also have access to the Uphold debit card offering, allowing them to have payments from Coil loaded directly onto their cards.
Stefan Thomas added, "Part of the inspiration for Coil was to break down the barriers that prevent creators from being paid for their work and their fans from being able to support them. By leveraging Interledger Protocol technology and partnering with Uphold, we're continuing to tear down walls that make cross-currency transactions too expensive and inaccessible to many."
To install and learn more about the new plugin, visit Coil's official plugin page and GitHub. To activate Uphold as the wallet provider for payouts from Coil, creators simply select Uphold upon setting up their free Coil creator account or by updating their existing account.
Coil was founded in 2018 to build a better business model for the web. Coil makes it easy for creators to monetize their content across the internet, and provides an alternative to advertising and site-by-site subscription models. As members enjoy content, Coil uses a proposed open web standard called Web Monetization to stream micropayments to creators in real time. Coil is designed to support a variety of creators, developers and content platforms. In 2019, Coil, in collaboration with Mozilla and Creative Commons, launched the $100 million Grant for the Web to boost open, fair and inclusive standards and innovation in Web Monetization. Coil also invested $20 million in Imgur, the community-powered entertainment platform reaching 300 million people each month. For more information about Coil, please visit coil.com and follow on Twitter (@Coil).
A digital money platform serving more than 2 million customers. Uphold has powered more than $6 billion in transactions. The Silicon Valley firm attracts up to 7,000 new accounts a day. Leveraging blockchain technology, the platform provides consumers and businesses with easy access to 27 national currencies, 30 digital currencies, six stablecoins, and four precious metals. Its unique 'Anything-to-Anything' architecture allows customers to trade directly between different asset classes: physical gold to bitcoin is one trade, for example. Uphold supports financial inclusion by enabling customers virtually anywhere to open an account in 3-5 minutes, and buy various assets and send funds worldwide. Consumers can trade with zero commissions, or send funds free of charge, including payments to suppliers and employees. Accounts can be funded via seven crypto networks, bank connections in 40+ countries, and debit and credit cards. Uphold is available through web, iOS and Android applications. For more information, visit https://uphold.com/. Not licensed in all jurisdictions.
Founded in 2012, Pragmatic is a digital agency based in Brighton, UK. Pragmatic are specialists in WordPress, providing consultancy, design, production and support services to publishers and brands internationally.