Chimoney, the Techstars-backed global payout infrastructure, and API connecting multiple payment rails, has achieved a significant milestone by becoming the first awardee of the 2023 ILP-enabled Financial Services Call for Proposal from the Interledger Foundation (ILF).
This partnership marks a groundbreaking endeavor to democratize cross-border payments, enabling financial access for users across the globe.
Chimoney’s mission is crystal clear: to unlock economic opportunities for everyone, everywhere. This mission dovetails seamlessly with Interledger Foundation’s vision of a more equitable global society through an open payments network. Together, they aim to break down financial barriers, ensuring that financial services are a universal birthright.
Uchi Uchibeke, CEO of Chimoney, expressed his optimism about the partnership: “Our collaboration with the Interledger Foundation is a testament to our commitment to a more inclusive financial landscape. We look forward to exploring the possibilities this partnership brings and bringing Bank Accounts, Mobile Money, Airtime, and other payment options to the Interledger Ecosystem.”
When asked about the partnership with Chimoney, Briana Marbury, the CEO and President of the Interledger Foundation said;
“We are excited to have awarded the ILP Financial Services grant to Uchi Uchibeke, founder of Chimoney. Our partnership with Chimoney creates more opportunities to further the goals of global financial inclusion. We are also looking forward to Uchi speaking at our Interledger Summit this year in Costa Rica, where he and many other innovators in this space will share their insights.”
The primary focus of this partnership is the integration of the Interledger Protocol (ILP) into Chimoney’s ecosystem. ILP, an open-source framework, offers a decentralized platform for frictionless cross-border transactions.
This integration promises to simplify financial transactions across different blockchains and payment networks.
Chimoney’s integration of Rafiki capabilities into Chimoney Wallets further amplifies this vision, ensuring a seamless financial experience for users.
The potential of this partnership is boundless. Interledger Protocol (ILP)Â could revolutionize cross-border payments, making them faster and more cost-effective. It could also pave the way for innovative financial solutions tailored to underserved communities.
“Chimoney extends an invitation to organizations and individuals who share our commitment to financial inclusion. Together, we are making financial services as accessible as sending an email, ensuring that financial inclusion becomes a reality for all”, Marbury said.
As this partnership progresses, Chimoney remains steadfast in its mission: unlocking economic opportunities for everyone, everywhere.
