By The Interledger Foundation (ILF), a nonprofit advancing an open and interoperable global payments network, has unveiled a new wave of technological and research initiatives aimed at revolutionizing digital finance and accelerating financial inclusion worldwide.
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The Foundation is backing three new fintech-driven projects and five global research studies designed to tackle the persistent barriers of fragmented financial systems, high remittance costs, and limited digital access in underserved markets.
Tackling the Digital Payment Divide
While digital payments have become seamless in some countries, over one-third of people across the globe remains excluded from digital commerce due to outdated systems and lack of interoperability. ILF is bridging this divide with a two-pronged strategy:
- Building the Internet of Value with Interledger Protocol (ILP) – enabling payments to move as easily as information online.
- Driving global financial inclusion research – investigating social and design obstacles to digital access.
With this approach, ILF’s total number of supported projects has now surpassed 200 initiatives worldwide.
New Technology Projects Driving Financial Inclusion
1. Remittance Revolution in Pakistan (Paysys Labs & Allied Bank Limited)
ILF is collaborating with Paysys Labs to help Allied Bank transform customer accounts into digital wallets, using the Interledger Protocol (ILP) to eliminate remittance delays and reduce transaction costs for Pakistanis sending and receiving money across borders.
2. Empowering E-Commerce in the Caribbean (BessPay, Jamaica)
BessPay is integrating Interledger Open Payments to enable low-cost, cross-border transactions for small businesses operating on the Sharetribe Marketplace platform. This will help Jamaican entrepreneurs and other Caribbean SMEs participate in global commerce more effectively.
3. Microloans for Ugandan Entrepreneurs (Kanzu Finance)
By using ILP, Kanzu Finance will deliver instant microloans, integrate automated credit scoring, and connect users to digital wallets. This model aims to accelerate community-based financial empowerment and expand financial services to the underserved in Uganda.
Additional Investments and Research Initiatives
The Foundation is also increasing investments in previously funded projects, including:
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The People’s Clearinghouse, facilitating remittances between the U.S. and 140 rural banks in Mexico.
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Wallet Guru, developing pay-as-you-go digital utility and entertainment payments.
In parallel, ILF is backing five new research projects to address core challenges in the financial ecosystem. These include:
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The impact of harmful design patterns in financial apps.
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Understanding why many people in developed countries still lack access to basic digital financial services.
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Exploring behavioral and structural hurdles to inclusive global finance.
“We’ve tasked ourselves and our partners with a substantial challenge: to build a new financial system that operates like the internet—frictionless, inclusive, and scalable,” said Chris Lawrence, Chief Program Officer, Interledger Foundation. “These new projects are critical in pushing the limits of what’s possible in digital finance—locally and globally.”
This year, from July 1 to August 1, 2025, ILF will accept proposals from organizations interested in contributing to its growing interoperable network.
