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Former Ripple CTO Teases New Project That Will Use XRP

Wed, 11/02/2022 - 06:30
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Alex Dovbnya
The former Ripple CTO Stefan Thomas is working on an XRP-powered micropayment network
Former Ripple CTO Teases New Project That Will Use XRP
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Coil CEO Stefan Thomas has taken to Twitter to announce that he is working on a peer-to-peer micropayments network.

It would initially use the XRP cryptocurrency for settling transactions, but Thomas claims that there are plans to add Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies in the future. 

The former Ripple CTO claims that this is his most ambitious project since he wrote his own Bitcoin implementation called BitcoinJS. 

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Thomas, one of the earliest adopters of Bitcoin, joined Ripple all the way in 2012 when the company was still just a small startup. Thomas joined Ripple as a senior engineer who was responsible for working on Ripple Client, the implementation of the company’s first client application. In June 2013, he was appointed as Ripple’s chief technology officer. 

The San Francisco-based programmer left Ripple back in 2018 to focus on Coil, a web monetization platform supported by Ripple. 

As reported by U.Today, the German-based programmer appeared in the spotlight in January 2021 after he told the New York Times that he couldn’t access his cryptocurrency wallet containing about $220 million. He had spent nearly a decade unsuccessfully attempting to gain access to the wallet to no avail. Thomas's story has become a cautionary tale for those who want to self-custody their cryptocurrencies. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at