Interledger Foundation launches as a charitable nonprofit organisation

Thursday 15 April 2021 10:51 CET | News

US-based Interledger Foundation has announced that it has formally launched operations as a charitable nonprofit organisation.

The foundation’s mission is to steward and advocate for Interledger, an open protocol that permits frictionless payments and micropayments across currencies and ledgers, resulting in opportunities for broader global financial inclusion. 

By using an open payments network in which anyone can earn, buy, sell, trade and share, the Interledger Foundation will build equitable pathways to financial access and digital participation.

Through funding from its founding members Coil and Ripple and its board of directors, the foundation will advance and support the Interledger Protocol and its open source community in developing better technological standards and new business models for the unbanked and creative economy.

The foundation is now the permanent home of the Grant for the Web program, which funds individuals, projects and global communities contributing to an open and accessible web monetisation ecosystem. Coil, Creative Commons, and the Mozilla Foundation will continue to provide governance for Grant for the Web.

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Keywords: payment processor, Open Finance, product launch
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech