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The Interledger Foundation (ILF) and its community are building pathways to financial access and opportunity across the world. We support people and ideas that use the Interledger Protocol (ILP) to contribute to an open payments network built on equitable access through the internet.

This newest funding program will catalyze more financial service nodes in the Interledger network.

Examples of consumer-facing services we seek to activate as ILP nodes are digital wallets, mobile money providers, banks, and neo-banks. All project plans will need to consider:

  • How they will enable money to be transferred on the ILP network
  • Planning to issue and house accounts for individuals and organizations
  • Knowledge about the Electronic Money Institution or similar regulatory frameworks for the region, community, or use case projects will serve
  • Plan for interoperability across systems and currencies
  • Commitment to open-source knowledge sharing as a contribution to the emerging ecosystem

This grant opportunity will fund up to 20 Research & Development projects at $75,000 USD for a six-month project timeline. This is the first phase of a three-phase program and awardees will potentially have an opportunity to apply to the Prototyping Phase. The goal of this first round will allow successful applicants to produce a dynamic business plan for becoming a node in the Interledger Network.

All proposals will need to articulate:

  • A compelling use case for an ILP-enabled financial service that understands the problems and opportunities it aspires to solve
  • An understanding and path forward on the financial regulatory policies and rules your service will exist in
  • A technology plan on how your project will use the Interledger Protocol
  • A practical work plan for producing a prototype including key collaborators
  • A preliminary budget for the cost of a prototype phase

We need new voices and ideas in the Interledger Network

We want to ensure that these financial innovations are coming from and created outside the typical locales and demographics. We seek to support communities that have – and continue to be – systemically and deliberately excluded from financial access and empowerment opportunities. For this CFP, we will increase the scoring of the following criteria in our judging process:

  • Projects located in and serving geographical locations outside North America and Western Europe
  • Projects where a lead applicant is a person of color or the team represents a diverse group of people
  • The output of the team benefits communities that have been historically underrepresented.
  • Funds are explicitly budgeted to address the increasing participation of historically marginalized and underrepresented communities.

More information can be found here.

Deadline for Submissions is Friday, July 8 at 19:00 UTC.

We use Submittable to accept and review our submissions.