C Oil, founded in 2018 by Stefan Thomas, was a pioneering company that developed and popularized the Interledger technology, creating a thriving ecosystem around it. As of March 15, 2023, C Oil has decided to sunset its products and development efforts, passing the torch to the Interledger Foundation to oversee the future development of Interledger. Despite this transition, Thomas will continue his work on Interledger as the Chairperson of the Board at the Interledger Foundation.
C Oil's approach of offering memberships served as a stepping stone to establish Web Monetization as the first open standard for creators and developers to receive payment on the Web. Moving forward, the Interledger Foundation will introduce full-featured Interledger wallets that will power Web Monetization and various other use cases, ensuring the continuation of this groundbreaking work.
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