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In a move set to redefine global payments, Chimoney, a Toronto-based, Techstars-backed fintech has unveiled its strategic integration partnership with the Interledger Foundation (ILF) — a partnership that promises unparalleled financial inclusion and economic empowerment. This strategic alliance which came in the form of a grant is poised to reshape the landscape of cross-border transactions through the integration of the Interledger Protocol (ILP) to Chimoney and bring Mobile Money, Airtime, Gift Cards, and Bank cash out to the Interledger ecosystem.
According to Uchi Uchibeke, CEO of Chimoney, the integration of ILP into Chimoney’s robust platform will deliver seamless interoperability across many payment networks, from traditional financial systems like Bank Accounts and Mobile Money to emerging payment systems like blockchain.
“At Chimoney, our vision has always been clear – to unlock economic opportunities for everyone by breaking down financial barriers and granting universal access to financial services. Integrating the Interledger Protocol into Chimoney’s platform is a game-changer. Much like the internet democratized information, this move will enable swift, seamless movement of value across currencies, countries, or payment networks.”
When asked about the partnership with Chimoney, Briana Marbury, the CEO and President of the Interledger Foundation explained that they were excited to have awarded the ILP Financial Services grant to Uchi Uchibeke, founder of Chimoney.
“Our partnership with Chimoney creates more opportunities to further the goals of global financial inclusion. We are also looking forward to Uchi speaking at our Interledger Summit this year in Costa Rica, where he and many other innovators in this space will share their insights.”
Uchi Uchibeke, Founder and CEO of Chimoney
Uchi further explained that since its inception, Chimoney has been unwavering in its commitment to financial empowerment and inclusion.
“With payout support now spanning 100 countries and continuous innovation in its offerings, Chimoney stands out as a beacon of hope in the fintech space as it pursues its mission to connect all payment networks globally.”
Briana Marbury, President & CEO, Interledger Foundation
“Integrating the Interledger Protocol with Chimoney’s Infrastructure and pairing it with other Licensed financial service providers signals Chimoney’s ambitious drive and positioning at the forefront of fintech innovation. It reinforces Chimoney’s commitment to delivering cutting-edge solutions and ensures its platform remains unparalleled in speed, efficiency, and reach.”
He added that the company is inviting the Interledger community, visionary partners, and businesses worldwide to delve into Chimoney’s payout solutions and Wallet as a Service (WaaS) offering to increase time to market and payout speed by 20,000x.
