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Cover image for Interledger Foundation Grant Awarded to ThitsaWorks to Enable Collaboration for Digital Financial Inclusion

Interledger Foundation Grant Awarded to ThitsaWorks to Enable Collaboration for Digital Financial Inclusion

ThitsaWorks, an award-winning fintech headquartered in Singapore will be partnering with the Mexican Association of Credit Unions of the Social Sector (AMUCSS) on The People’s Clearing House (PCH) initiative to develop an inclusive and instant payments network for credit unions’ members, who are currently excluded from the national instant payments system.

Using its Thitsa Payment Portal (TPP), ThitsaWorks via this partnership will ensure that small and rural-based credit unions, especially those without core back-end systems, can seamlessly integrate into the network and enable cross-border remittance through the Rafiki-MojaLoop interoperability via a Cross-network Provider (CNP).

Thitsa Payment Portal (TPP), originally developed for the Myanmar microfinance sector, will be further developed and customized as a use case specific to Mexico. The results of this will be applied to the broader concept and deployment of the TPP in other targeted locations including South Sudan and Trinidad and Tobago. TPP serves as ThitsaWorks’ blueprint to foster financial inclusion for those currently excluded from traditional financial systems.

To learn more about ThitsaWorks, and the previous project implemented, please read the reports here.

Interledger Foundation continues to enable innovators across the globe with ideas and tenable financial solutions geared toward serving underrepresented populations. Last April, ILF launched its 2024 grant cycle and is now accepting proposals for its ILP Digital Financial Services opportunity. Applicants will have the opportunity to select an appropriate track depending on the intended functionality of their proposed idea. The two tracks are

  • Track 1: Interledger | Enabled (up to 250,000 USD) - This grant opportunity allows existing digital financial service entities to implement Rafiki into their working financial infrastructure, resulting in a new node on the Interledger Network.
  • Track 2: Interledger | Unlocked (up to 150,000 USD) - This grant opportunity allows for the expansion of payment options in an existing web-based platform to use our Open Payment APIs.

This grant funding is only eligible to NGOs, educational institutions, government agencies, companies, and/or other documented collectives registered and/or licensed in an official capacity in the country within which they operate. For more details on the grant opportunity, please refer to the Grant Application Guide.

Submit your application HERE. This Call for Proposals closes on Friday, August 30, 2024.

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