Ripple's Xpring makes one billion XRP grant to content monetization platform Coil

Xpring, an initiative created by Ripple to drive $XRP adoption, announced a one billion XRP grant to Coil, a content monetization platform founded by former Ripple CTO Stefan Thomas. The grant, currently worth around $261.5 million, will be used to "build an ecosystem of creators, developers, companies and nonprofits that are using XRP through the Web Monetization open standard." Ripple has been increasingly aggressive with how it uses its vast treasury of XRP, selling $251.5 million in the second quarter of 2019, up 50% from the quarter prior, and investing up to $50 million in remittance company MoneyGram.