Interledger Foundation

The Interledger Foundation is a US-based nonprofit corporation and standards organization established in 2019. It is registered as a 501(c)(3) organization, classified under the categories of international development and relief services. The foundation's mission is to advance global digital financial inclusion and promote equitable access to the digital economy through the development and advocacy of open, interoperable payment standards, notably the Interledger Protocol (ILP).

Purpose and Scope

The Interledger Foundation aims to increase access to digital financial services for approximately 1.4 billion people worldwide who are excluded from traditional banking systems. It achieves this by fostering a global, open payment network that allows seamless transactions across different financial institutions and geographical locations.

Projects and Initiatives

The foundation supports various projects and initiatives, including:

• Interledger Protocol (ILP): A global standard for interoperable financial networks, allowing diverse payment systems to interact seamlessly.
• Open Payments API: A unified standard for interoperable payments, facilitating cross-border and multi-currency transactions.
• Web Monetization: An API standard designed to enable micropayments and support new business models on the web by allowing websites to receive payments from users via digital wallets integrated into web browsers.
• Mojaloop and People’s Clearinghouse: Initiatives using ILP to facilitate real-time payments in emerging markets, enhancing financial inclusion.
• Grants: The foundation offers grants to support organizations worldwide in integrating ILP into their financial infrastructure, promoting inclusive digital payments.

Governance and Structure

As of April 2021, the foundation's board of directors consisted of prominent figures from various organizations, including Ripple Labs and the Bill and Melinda Gates Foundation. Key members include Briana Marbury as President and CEO, and Stefan Thomas as Chair.

Financial Operations

In its early years, the foundation's revenue primarily came from contributions. As of its December 2021 tax filing, it reported substantial contributions and significant assets, with a focus on directing these resources towards advancing its mission of financial inclusion. The foundation has also made notable investments in supporting projects across more than 40 countries since 2020.