Chimoney and Interledger Partner to Revolutionise Global Payments

A Toronto-based, Techstars-backed fintech, Chimoney, has announced a pioneering integration with the Interledger Foundation (ILF)  to redefine global payments and improve financial inclusion and innovation. 

This means by harnessing the power of ILP, Chimoney will deliver seamless transactions across diverse payment networks, from traditional banking systems to emerging blockchain platforms, making it easy to democratize financial services, mirroring the internet’s universal accessibility via the TCP/IP protocol.

Uchi Uchibeke, CEO of Chimoney, explained that by integrating the transformative Interledger Protocol (ILP), Chimoney will bring Mobile Money, Airtime, Gift Cards, and Bank cash out to the Interledger ecosystem.

“Our vision at Chimoney has been steadfast – to unlock global economic opportunities by eliminating financial barriers. The integration of the Interledger Protocol is a monumental stride. It’s set to enable faster movement of value across currencies, countries, and payment networks, akin to how the internet democratised information.”

Briana Marbury, the CEO and President of the Interledger Foundation also expressed excitement about the partnership. According to her, the partnership with Chimoney will create more opportunities to further the goals of global financial inclusion. 

“We are excited to have awarded the ILP Financial Services grant to Uchi Uchibeke, founder of Chimoney. 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.”

Talking further on the partnership, Uchi explained that since its inception, Chimoney has championed financial empowerment and inclusion. With support in 100 countries and rapid expansion to more countries and payment options, the organization shines in the global payouts space and aims to unify payment networks globally.

“The integration of the Interledger Protocol, coupled with collaborations with licensed Financial Service Providers within the Interledger ecosystem, underscores Chimoney’s edge. This move highlights Chimoney’s dedication to providing top-tier solutions, ensuring unmatched efficiency, scale and reach”.

“With the enhanced capabilities of Chimoney’s ILP-powered platform, businesses can expect streamlined payouts, further solidifying Chimoney’s reputation as the ultimate choice for choice-based flexible global payouts.”

Uchi added that  “we invite 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.”