COIL is a digital currency that was created to facilitate micropayments on the internet. It was founded by Stefan Thomas, who is also the creator of the Interledger Protocol. The goal of COIL is to make it easier for content creators to monetize their work and for consumers to pay for that content without having to deal with the high fees associated with traditional payment methods. COIL is built on the XRP Ledger, which is a decentralized blockchain technology that allows for fast and secure transactions.

One of the unique features of COIL is its integration with various web platforms, such as YouTube, Twitch, and Wikipedia. This integration allows content creators to receive payments directly from their viewers without having to rely on advertising revenue or sponsorships. COIL also offers a browser extension that allows users to easily make micropayments to websites that have enabled COIL payments. Overall, COIL aims to create a more equitable and sustainable internet economy by providing a new way for content creators to monetize their work and for consumers to support that work directly.