Interledger Foundation Breaks Ground on Eight Projects to Bolster Money Movement Around the World

The Organization Surpasses 200 Projects, with new Projects in Uganda, Jamaica, and Pakistan, All Designed to Usher in an Open Digital Economy

SAN FRANCISCO, CA, UNITED STATES, April 24, 2025 /EINPresswire.com/ -- The Interledger Foundation (ILF), an organization building and advocating for an open, interoperable payments network, has announced its participation in three new technological initiatives and five research projects, all of which will progress its work toward seamless global money movement. Among these initiatives is work with private fintech companies to streamline remittances for a major bank in Pakistan, power microloans for community-based financial institutions in Uganda, and enable international payments for online marketplaces in Jamaica. The organization is investing in five new research projects to inform new methods of boosting economic engagement and sustainable growth. This brings the total number of initiatives Interledger Foundation invested in to over 200 projects.

Although in some countries, making a digital payment is as easy as a few clicks on a smartphone, there is currently no global standard for digital payments. This has resulted in a financial system that is fragmented, slow, and inaccessible. Further, as many as one-third of people across the globe can’t participate in local or global commerce through digital payments. Interledger Foundation is working to overcome these roadblocks with a two-fold approach: 1) Building the Internet of Opportunity with Interledger, where payments become as borderless and frictionless as the Internet. And 2) researching and developing new social methods to bring digital payments to new audiences.

The three new technological projects include:
- Paysys Labs streamlines remittances for a major Pakistani bank. Working with Allied Bank Limited, a Pakistani commercial bank, Paysys will leverage ILP to turn customer accounts into digital wallets, which can then transact funds with other digital wallets on the Interledger Network. This will reduce the high costs and delays that characterize cross-border payments in Pakistan.
- BessPay enables international payments for online marketplaces in Jamaica and the Caribbean. BessPay is working to overcome the high fees and coverage gaps with established digital payments providers in emerging markets with Interledger Open Payments. This project will empower small and medium businesses to launch their own marketplace on the Sharetribe Marketplace Platform and engage in cross-border business with low-cost, quick transactions.
- Kanzu Finance powers microloans for community-based financial institutions in Uganda. Leveraging ILP, Kanzu Finance seeks to foster economic empowerment and entrepreneurship in Uganda. By powering automated credit scoring, integration with digital wallets, and instant loan distribution and repayment, the organization will spur local economic development and lead to the growth of community-based financial institutions.

Interledger Foundation has additionally increased investments in existing projects, such as with the People’s Clearinghouse to create a remittance pathway between the US and 140 community banks in rural Mexico, and Wallet Guru to develop a pay-as-you-go utility and entertainment payment solution.

Interledger Foundation has also funded five research projects designed to explore and ultimately define methods that will boost economic engagement and sustainable growth, both in established and emerging economies. This work will examine harmful design practices in digital financial interfaces, uncover why people in established economies still don’t have access to financial services and other issues surrounding global digital finance.

“We’ve tasked ourselves and our partners with a substantial challenge: build a new financial system that operates like the internet to transcend traditional barriers and create new opportunities,” said Chris Lawrence, Chief Program Officer at The Interledger Foundation. “Each organization and individual we work with plays an integral role in progressing open payments standards so that technical and societal roadblocks do not limit financial growth on a local and global scale. With each new project, we further push what’s possible beyond the financial systems we know today.”

This year, from July 1 to August 1, 2025, Interledger Foundation will accept proposals from organizations interested in contributing to its growing interoperable network.

About Interledger Foundation

Interledger Foundation is an organization building and advocating for an open, interoperable payment network where transactions are not limited to a particular bank, mobile money provider, or location. The organization works to increase access to digital financial services for the 1.4 billion people worldwide who are currently excluded from traditional banking systems through the Interledger Protocol (ILP), co-created by early Bitcoin contributor Stefan Thomas. The organization works with partners to integrate its ILP into existing and emerging financial and payments infrastructures. It currently has large-scale projects underway with Wallet Guru, People’s Clearinghouse, and Chimoney, to name a few–with plans to deploy interoperability initiatives across countries, including Amsterdam and South Africa.

Learn more at: www.interledger.org

Kieran Powell
Interledger Foundation
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