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Uphold Announces New Coil Alliance for Interledger Connectivity

June 10, 2020

A new agreement between Uphold and Coil may be useful in Latin America for content providers and website monetization. This was reported by Uphold to Cointelegraph in Spanish through a statement.

Uphold announced its alliance with Coil, a provider of monetization solutions for web content available to users in Latin America: “Now, Coil customers in Latin America (creators of all types of online content) can choose Uphold as their digital destination wallet to receive and send money directly from their Uphold account and access more than 50 currencies (including fiat and cryptocurrencies) and bank details in more than 34 countries ”.

The statement clarified that Coil is a provider of monetization solutions designed to help web content creators. They explained that it uses “Interledger” technology, which enables real-time payments and the ability to settle them globally in different types of digital assets or fiat currencies. Uphold’s global payment functions are well suited for this functionality.

Uphold Announces New Coil Alliance for Interledger ConnectivityUphold Announces New Coil Alliance for Interledger Connectivity

Robin O’Connell, Chief Revenue Officer at Uphold, said the company sees this alliance as an important step on the way to a new way of financial conception in Latin America:

“We see the monetization of the web as an exciting development for the future of payment transactions in the open web. The features offered by Uphold can undoubtedly be very attractive to the large number of people in the entertainment and web content industry in Latin America who are also cryptocurrency users. We think this new integration is very important for content creators in the region. “

Then he added:

“With its” Everything to Everything “payment structure, Uphold is in a unique position to give partners like Coil the opportunity to bridge the old and new currency systems.”

Finally, they stressed that this new service is available to all users in Latin America, except for countries that are subject to special legal restrictions.

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