ILP Digital Financial Services Grants

ILP Digital Financial Services Grants

Status: ACTIVE
Funder: Interledger Foundation
Amount: Up to US $250,000
Last Updated: July 07, 2025

Summary

The ILP Digital Financial Services Grant, offered by the Interledger Foundation, aims to promote equity and inclusion through Interledger-driven business models. It targets the creation of digital financial services that enhance global payment accessibility, empowering diverse communities. With tracks for both established financial entities and innovative projects, the grant encourages proposals that foster participation from underrepresented groups and advocate for open-source principles, ensuring a more inclusive financial landscape.

Overview

About The ILP Digital Financial Services Grant supports ideas around Interledger-driven business models that seek to build equity and inclusion within a global interoperable payments network. This grant is designed to help the Interledger Foundation’s vision for a world where everyone can send a payment as easily as an email. Expanding digital financial inclusion through inclusive systems means advocating for the adoption of an open-source, currency-agnostic payment network powered by the Interledger Protocol (ILP). Through this grant, we want to see the development of digital financial services solutions and products, some of which will participate as Interledger network nodes; including digital wallets, mobile money providers, banks, savings coops, and neo-banks. While the grant's core focus remains on becoming a node in the Interledger Network, we are also keen to incorporate the interests of those with innovative ideas that can foster greater adoption and usage within the Network, even if they have no intent of becoming an actual node. This flexibility is reflected in the two tracks we are offering for consideration by applications, empowering you to shape your proposal according to your unique vision and goals. Interledger | Enabled - This grant opportunity is for existing digital financial service entities to implement Rafiki into their working financial infrastructure, resulting in a new node on the Interledger Network.Interledger | Unlocked - Do you need to expand your payment options in your web-based platform? Then you could use our Open Payment APIs and take advantage of this grant opportunity. A good example of an ideal candidate for this grant is an e-commerce site or donation platform. Through this grant, we want to ensure that emerging financial services, products, and innovative solutions come from and are created outside of the typical locales and demographics. To this end, we will increase the scoring of the following criteria in our judging process for this grant program: Projects are located in and serve 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.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.The project displays an understanding and commitment to using open-source principles, including open-source software adoption.

Eligibility

We've imported the main document for this grant to give you an overview. You can learn more about this opportunity by visiting the funder's website.

Application Details

Digital Financial
Services Grant
Program
Application Guide
A comprehensive guide to applying for the Digital Financial Services Grant. The Applicant Guide
provides prospective applicants with the resources and information on how to submit
applications for this grant program for the 2025 grant cycle.
(rev. May 2025)

1
INTRODUCTION...........................................................................................................................2
About the Interledger Foundation..................................................................................................2
Mission...............................................................................................................................2
Vision.................................................................................................................................2
Values................................................................................................................................3
About the Interledger Foundation Programs................................................................................3
Digital Financial Services Grant Program............................................................................................4
BACKGROUND.................................................................................................................................................4
OBJECTIVES OF THE PROGRAM...............................................................................................................5
INTENDED AUDIENCE...................................................................................................................................5
FUNDING TRACKS..........................................................................................................................................5
OUTCOMES......................................................................................................................................................6
KEY ELEMENTS..............................................................................................................6
GRANT TIMELINES...............................................................................................................7
ADMISSIBILITY AND ELIGIBILITY................................................................................................................8
Application Admissibility..........................................................................................................................8
Applicant Eligibility....................................................................................................................................9
APPLICATION QUESTIONS................................................................................................10
APPLICATION ASSESSMENT & REVIEW.................................................................................................12
Judging & Review Process....................................................................................................................12
Assessment Rubric..................................................................................................................................13
BUDGET PREPARATION..............................................................................................................................16
TIMELINE PREPARATION.............................................................................................................................16
Communication With Applicants Before Submission.......................................................................17
Communication With Applicants After Submission..........................................................................17
Grant Award Distribution......................................................................................................................18
Reporting, Monitoring, and Evaluation...............................................................................................18
Reporting & Monitoring................................................................................................................................18
Evaluation.........................................................................................................................................................19
Personal Data Protection......................................................................................................................19
List of Required Attachments.................................................................................................19
Frequently Asked Questions...............................................................................................................20
Resources..................................................................................................................................22

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INTRODUCTION
About the Interledger Foundation
The Interledger Foundation is a US-based nonprofit foundation and steward of the Interledger
Protocol (ILP) and Open Payments API and Web Monetization standards. We advocate for
adopting open, interoperable payment solutions while supporting organizations that want to build
on Interledger and maintain a robust open-source community.
We increase access to digital financial services for the 1.4 billion people worldwide who are
currently excluded from traditional banking systems. We do this by making it easier to send
money to anyone, anywhere. When payments are powered by Interledger, transactions are not
limited to a particular bank, mobile money provider, or location.
Mission
We aim to build equity and inclusion within Interledger, the global payments network for
inclusive digital financial service providers.
We work with entrepreneurs, organizations, and government agencies to research, prototype,
and implement free and open source solutions aligned with our mission. We actively support
underrepresented groups and vulnerable populations to advance digital financial inclusion which
will ignite progress towards attaining the United Nations Sustainable Development Goals (SDG).
Vision
In the same way the Internet eased sending information around the world, Interledger applies
similar principles in easing the flow of payments across the web - through packets. It’s a secure
and fast way for anyone, anywhere, to send or receive payments, and one of its best features is
that it can be in any currency. This supports our vision for a world where anyone can send a
payment as easily as an email.
We work with partners worldwide who share our vision to change the way digital financial
services work to improve people’s lives.
Our global strategy for change is:
● Support the development of digital financial systems in vulnerable areas.
● Fund innovative solutions geared toward serving underrepresented populations.
● Foster an ecosystem that supports a paradigm shift in payment systems.

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● Create a robust and active Interledger community that grows together.
● Enrich talent pipelines to bring new voices and perspectives into the fintech space.
Values
We are a value-based organization operating on the following principles:
● Be Open: Our technology is always open, accessible, and shared with the global
community.
● Be Inclusive: We bring new voices into the tech ecosystem, working with
underrepresented groups and vulnerable populations.
● Be Innovative: Through fresh perspectives and creative thought partnerships, we intend
to shake up the status quo.
To learn more about the Interledger Foundation, visit our website or preview our presentation on
how our work seeks to revolutionize digital payments.
About the Interledger Foundation grant programs
The Interledger Foundation offers grant-based funding to advance its mission through
community-led projects. We believe that the best solutions come from within the communities
they serve. Our grant programs directly fund individuals (developers, entrepreneurs,
subject-matter experts) and organizations (NGOs, nonprofits, companies, governments,
universities, collectives). We foster a sustainable and equitable global financial system by
supporting the expansion of digital financial services, university-level youth education, and
connecting systematically financially excluded communities through ambassador engagement.
To get an overview of the varying programs we have on stream, please visit our grants portfolio
on our website.

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Digital Financial Services Grant Program
BACKGROUND
The Digital Financial Services grant opportunity caters to a specific audience and seeks to
support ideas around Interledger-driven business models by players in the ecosystem that
seek to build equitable digital financial access and inclusion through the Internet. To foster
digitally inclusive finance systems, the Interledger Foundation offered a grant window of
opportunity to expand the network by supporting the development of financial nodes and
integrating innovative financial solutions that seek to use Interledger as a payment method.
The Interledger Foundation strives to create an ecosystem of frictionless payments across
currencies and ledgers. Our vision is for a world where anyone can send a payment as easily as
an email. To this end, our Digital Financial Services Grant seeks to bring to life ideas and work
that use the Interledger network, Interledger Protocol (ILP), and other open-source standards
and technologies that contribute to building equity and inclusion within a global interoperable
payments network.
For the past three years, the Interledger Foundation has launched three calls for proposals under
its Financial Services grant funding opportunity that have since benefitted eighteen (18) projects
across sixteen (16) countries. Together with the grantees, we have gained a greater collective
understanding of what is needed to prototype, iterate, and test Interledger-enabled digital
financial expansion projects within the ecosystem. To learn from grantees in the ecosystem, here
are some of the current projects include:
➔ People’s Clearinghouse, Mexico - is a payments platform for connecting a large network
of small social sector financial institutions (like community banks and savings
co-operatives) in Mexico to each other, the national payments switch in Mexico, and to
global payments systems.
➔ Chimoney, Canada - enabling cross-border payments, payouts, and disbursements for
emerging platforms, financial institutions, and creator communities through APIs and web
Platforms.
➔ Wallet Guru - creating ILP-enabled payment streaming solutions in Latin America.
➔ Thitsaworks, Myanmar - building an inclusive payment network for the unbanked and
underbanked in Myanmar.
All past grantees’ work can be accessed on our Community Forum, #grantreports. Get to know
our latest cohort of grantees from our 2024 call for proposals here.

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OBJECTIVES OF THE PROGRAM
The goal of the Digital Financial Services grant is to create an ecosystem that facilitates secure,
private, fast, and free payments across currencies and ledgers. This grant opportunity is focused
on using the Interledger Foundation’s open standards and open source implementations to
expand financial services available to historically marginalized and underrepresented
communities.
We want more financial service providers to implement the Open Payments API specification and
peer with other financial service providers using the Interledger Protocol. We specifically are
interested in working with digital wallet providers, banks, neobanks, community banks, and credit
unions. Additionally, we want to expand use of Open Payments and Interledger as a payment
method online and in-person.
INTENDED AUDIENCE
This grant caters to a specific audience.
It is ONLY available to entities that are registered and/or licensed in an official capacity in the
country within which they operate, such as companies (in the startup phase or already
established), non-government entities, institutions, collectives, and nonprofits.
FUNDING TRACKS
If you are interested in joining a global network of inclusive financial service providers, here
are the available funding options:
Track 1: Interledger | Enabled (up to $250,000)
Designed for digital financial service providers—including digital wallets, mobile money
providers, banks, savings co-ops, and neo-banks—this track helps integrate Rafiki into existing
financial infrastructures, establishing new financial nodes on the Interledger Network.
Track 2: Interledger | Unlocked (up to $150,000)
For web-based platforms (e.g., e-commerce sites, donation platforms) that want to expand
payment options for users by integrating Open Payments APIs into their systems.

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OUTCOMES
Interledger Foundation’s 2025 Digital Financial Services Grant program is a culmination of
research, development, and prototyping with more focus levied on experimental output yielding
workable prototypes demonstrating movement of money within the Interledger Network. On a
broad scale, we see digital financial inclusion as a key enabler for economic justice and poverty
reduction. Our mission is to build, support, and fund solutions geared toward digital financial
inclusion to uplift underrepresented populations and those who are economically vulnerable.
With respect to further engagement, after grantees have successfully implemented their projects
and are ready to launch and operate, the Interledger Foundation may offer Project Related
Investments (PRI), a low-interest loan facility for projects interested in pursuing further financing.
This facility will be made available on a case by case basis. More details on this program will be
made available at the appropriate time.
Together, we hope to foster an ecosystem that supports a paradigm shift in digital payment
systems, their accessibility, and who they serve.
KEY ELEMENTS
The following key elements describe the fundamental aspects of this 2025 grant cycle.
➔ Minimum and Maximum Grant Request Amounts:
The funding range for the Digital Financial Services grant will be dependent on the track
the submission is for.
The Interledger Foundation will fund projects, per the following track, in the amount of up
to:
◆ Interledger | Enabled - USD 250,000.00
◆ Interledger | Unlocked - USD 150,000.00
➔ Minimum and Maximum Project Duration:
The maximum project duration for both tracks is 12 months.
All applications will be evaluated based on their milestones, human resource capacity,
and ability to successfully execute the project in the specified timeframe. Awarded
projects can request no-cost extensions should they need additional time to complete the
project.
➔ Project start date:
Projects should start per the signing date of the grant award agreement.

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➔ Number of grants funded per applicant:
Applicants are welcome to collaborate with other applicants on additional submissions.
However, applicants may only be awarded funding for one project in the grant cycle and
will not be eligible to receive multiple grants in one grant cycle, either as the primary
applicant or as a collaborator.
Please refer to the conflict of interest policy in the application guidelines.
GRANT TIMELINES
The following grant timelines are indicative and, therefore, are subject to change. Any changes to
the timelines will be communicated to applicants.
2025 March Cycle - Digital Financial Services Grant [CLOSED]
➔ Grant window opens for application submission Mar 3, 2025
➔ Grant window closes for applications Apr 4, 2025
➔ Final Admissibility and Preliminary Checks Apr 11, 2025
➔ Judges’ Panel Review Starts Apr 14, 2025
➔ Judging Review Ends/Decision on Awardees May 16, 2025
➔ Notification to Applicants May 30, 2025
➔ Grant Agreement Contracting and Onboarding June/July 2025
➔ Joint Public Grant Announcement July/August 2025
2025 July Cycle - Digital Financial Services Grant
➔ Grant window opens for application submission Jul 1, 2025
➔ Grant window closes for applications Aug 1, 2025

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➔ Final Admissibility and Preliminary Checks Aug 15, 2025
➔ Judges’ Panel Review Starts Aug 25, 2025
➔ Judging Review Ends/Decision on Awardees Sep 26, 2025
➔ Notification to Applicants Sep 30, 2025
➔ Grant Agreement Contracting and Onboarding October 2025
➔ Joint Public Grant Announcement November 2025
Subsequent cycles will be implemented after a review of the current cycle, which may result in
changes to key elements for future programs and updated guidelines for applicants.
ADMISSIBILITY AND ELIGIBILITY
Application Admissibility
The Interledger Foundation uses Submittable as the online grants application system for our
Grant Program. Applications must be submitted through the Submittable portal as made
available by the Interledger Foundation. Applications submitted by other means are not
admissible and will not be accepted or evaluated.

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For technical support with the application platform, please contact the Submittable Help Desk.
If you are using Submittable for the first time, each organization must sign up and create an
account. After verification, you may proceed to complete the application.
Applications must:
➔ Be submitted through Submittable, our online application platform
➔ Be submitted by the respective deadline stated.
➔ Be submitted in English (including due diligence documentation, such as letters of
partnership/support, agreements, technical documentation, etc.)
➔ Include all required elements, including those indicated in the due diligence checklist.
➔ Request a grant amount based on the indicated grant funding available per track.
➔ Propose a project duration that matches the timeline per the project phase.
Applicant Eligibility
All applicants will be required to complete a form to assess their eligibility for the grant. If
successful, they will then gain access to the Financial Services grant application form for
completion.
All eligible applicants must:
➔ Be a registered organization.
◆ Commercial Business
◆ Education Institution
◆ Cooperatives
◆ Non-Government Organization

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◆ Nonprofit
◆ Foundation
The Interledger Foundation is open to receiving applications from more than one organization.
However, all participating organizations must be identified in the application. The Interledger
Foundation will agree with the lead organization, which must meet all eligibility requirements.
The lead organization will be responsible for communications regarding the program with the
Interledger Foundation or its authorized vendors, signing the grant agreement, and meeting
reporting requirements.
➔ Applicants MUST be 18 years or older.
➔ Applicants MUST have read and agreed to the Participation Guidelines.
➔ Applicants MUST review the Developers’ Portal and demonstrate an understanding of
the Interledger Protocol and Open Payments API specification.
Once applicants meet the above criteria, they can access the application form for completion.
Applicants must also:
➔ Support The Interledger Foundation’s compliance with relevant U.S. laws, rules, and
regulations.
◆ The Interledger Foundation must comply with the economic and trade sanctions
program administered by the Office of Foreign Assets Control ("OFAC") of the U.S.
Department of the Treasury. These sanctions have been imposed on specific
countries, individuals, and entities that appear on OFAC's List of Specially
Designated Nationals and Blocked Persons (the "SDN List").
◆ The Interledger Foundation is prohibited from providing most goods or services to
residents of sanctioned countries or their governmental entities or to SDNs
without an applicable U.S. government authorization or exemption.
➔ Have no conflicts of interest.
The Interledger Foundation provides various grant programs accessible to
organizations and individuals worldwide, with the exception of the countries listed
on the US sanctions list.
Direct employees and contractors of the Interledger Foundation are NOT eligible
to apply for or receive grant funding.
All applicants for ILF grant funding will be expected to disclose:
● If they are currently employed by or receiving funds from any of the
Interledger Foundation’s current awardees.

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● Have a proposal currently being reviewed in any Interledger Foundation
funding stream.
● If they are aware of any proposals that have some connection to them
through their professional or personal network, here are the guidelines:
○ If you have worked together personally or professionally, please
contact us with the details.
○ Please contact us with the details if you had any part in the
application’s creation.
○ If the proposal is funded, please contact us with the details if you
stand to benefit financially or otherwise.
○ When in doubt, reach out as early as possible.
● If you are currently enrolled as a student, or serve as a faculty member of
an institution which is a current grantee (or is currently applying for a
grant); please contact us with the details.
Criteria for Disqualification
Generally, the Interledger Foundation advises that applicants refrain from
applying if any of the following statements apply:
● The applicant has a personal relationship with the Interledger Foundation
Staff members, such as a close relative, current or former collaborator, or
mentor/advisor.
● The applicant is the spouse, child, or business partner of an Interledger
Foundation Staff member, Contractor, Judges Cohort, Board Member, or
current Awardee.
● The applicant has a written letter of recommendation from an Interledger
Foundation Staff member, Contractor, Judges Cohort, Board Member, or
current Awardee.
● The applicant is a recent or former, direct or contracted employee of the
Interledger Foundation, or Board Director, member of the Judging pool, or
current Awardee over the past 2 years.
● The organization where the applicant is employed has an arrangement for
future employment or is negotiating for employment, or the organization
where the applicant is an officer, director, or partner.
When in doubt, please reach out to us at programteam@interledger.org.
➔ Meet due diligence requirements.
◆ Applicants must provide information on the legal establishment of their
organization, as well as the identification of directors and officers of the
organization.
◆ Applicants must be in good corporate standing under their applicable laws and
regulations.

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◆ The Interledger Foundation reserves the right to reject an application, even if the
applicant is otherwise qualified, based on information uncovered during the due
diligence process.
➔ Have a bank account in the applicant organization’s/personal name.
◆ An account should be legally registered under the applicant organization’s legal
business name.
◆ An account must be able to receive transfers from a U.S. financial institution.
APPLICATION QUESTIONS
Applicants will be expected to answer several questions providing a comprehensive overview of
their project, its goals and objectives, target audience, intended impact, contingencies, and
associated risks. Applicants should also highlight their experience delivering such projects, any
partnerships involved in executing the project, and how they will measure success.
The following questions are provided for planning purposes and may appear differently in the
actual application:
➔ Describe how the project aligns with the Interledger Foundation’s thrust to expand and
advance financial inclusion enabled by the Interledger Protocol.
➔ Provide a clear identification of the problem or challenge being experienced by a specific
group or community; and how you seek to solve it. An indication of whether or not others
have attempted to solve the issues and what were the shortcomings, if any.
◆ Outline the demographics of the audiences or community(ies) that will be
impacted by the project.
➔ Provide an overview of who is implementing the project; identification of the project lead
and members of the team and their respective roles.
➔ How do you plan to use and/or integrate the Interledger open payments technology?
➔ What is your experience with the Interledger Protocol, Open Payments API, Rafiki, Web
Monetization, and/or involvement in the Interledger ecosystem?
➔ The applicant must outline its regulatory compliance with respect to the proposed
financial service or a detailed action plan outlining plans to attain the requisite licensing to
operate the proposed financial service to be prototyped. (applicable to the Node
Formation track).
➔ Outline the development work to be done to form the financial service node in the
Interledger network or integrate Interledger to enable payments on your platform or
product.

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➔ Provide detailed budget, milestones, and timelines for the proposed project. The
Interledger Foundation will provide templates to be completed by the applicant.
➔ Upload supporting documentation to confirm company registration, letters of
support/partnership, organizational structure and management, audited financial
statements, and operational budget.
To assess one’s readiness for submission, we implore you to evaluate your proposed idea/project
using the following checklist, where applicable:
➔ Have read the documentation for Rafiki and Open Payments.
➔ Have tested our Rafiki deployment and Open Payments implementation.
◆ Has an account on the Interledger test wallet
◆ Has played with the Interledger test network
➔ Have architecture diagrams demonstrating how the Rafiki services fit into their current
infrastructure.
➔ Have UI/UX flows/mockups/designs demonstrating the use of Interledger user-facing
components.
◆ Payment Pointers / Wallet Addresses are present on account information screens.
◆ Interledger / Open Payments is available as a payment method
◆ Open Payment APIs - User Key Management
◆ Consent screen/flow for Open Payments IDP
➔ For complex systems, i.e. - country-level implementations.
◆ Have identified connection points and partners for Rafiki
◆ Have architecture diagrams describing how the multiple systems are using the
multiple Rafiki instances
➔ For Streaming / Web Monetization use cases:
◆ Have identified ledger limitations regarding floating point balances and have
explored mitigation strategies.
◆ Can hold balances on behalf of users
➔ Obtained approval to operate as a financial services provider in your jurisdiction or can
provide a plan for obtaining approval.
➔ Have all due diligence documents for example partnership agreements/MOUs, letters of
support, technical documentation, demos, etc. be included.

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APPLICATION ASSESSMENT & REVIEW
Judging & Review Process
Judging for the Digital Financial Services grant is a two-step review process, which will include
the following rounds:
➔ Round 1: Initial Review: The program team will review the submissions to ensure that all
the requisite documentation has been submitted.
◆ At this phase, the program team may reach out to the applicant to address any
concerns that may arise from the initial review.
◆ The program team may also cull any submission it thinks does not fit the tenets of
the Digital Financial Services grant.
➔ Round 2: Judges’ Review—A selected cohort of judges from a recommended pool will
review the submissions thoroughly to recommend their readiness for funding.
◆ The judges’ cohort will mix internal and external judges from the Interledger
Foundation and ecosystem. The cohort composition is expected to include a
diverse group of open-source, technical subject matter experts aligned to the
themes and work areas of the Interledger Foundation.
◆ Decision: The Interledger Foundation leadership team will review the projects
recommended for funding by the judges and decide on those to be awarded.
The panel will include the following characteristics and workflow, which will depend on the
number of applications received.:
● Each submission will be reviewed by at least 3 judges.
● The judges will assess and score each submission using the scoring rubric provided by
the Interledger Foundation program team.
● Judges will gather to discuss scores and feedback on submissions and recommend a
shortlist of applications deemed worthy of continuing the process.
● The Interledger Foundation leadership team will review the recommended projects and
make final funding decisions.
○ The successful applicants will then be notified and moved on to the next stage of
the grant agreement contracting and onboarding process.
○ Applicants not selected for the final stage of grant awards will be notified via
email. Upon request, applicants will receive specific feedback about why the
application was not selected for the final slate.

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Assessment Rubric
Through this grant, we want to ensure that emerging financial services, products, platforms, and
solutions come from and are created outside of the typical locales and demographics. To this
end, we will increase the scoring of the following criteria in our judging process for this program:
● Projects are located in and serve geographical locations outside North America and
Western Europe.
● Projects where a lead applicant is a person of a historically underrecognized group or the
team represents a diverse group.
● Funds are explicitly budgeted to address the increasing participation of historically
marginalized and underrepresented communities.
● The project displays an understanding and commitment to using open-source principles,
including open-source software adoption.
The following outline mirrors the key aspects of the scoring rubric to be used by judges to assess
the applications.
COMPETENCY AND EXPERTISE OF PROJECT TEAM
An assessment of the skills, knowledge, and experience of the proposed team lead, team
members, and partners to deliver the successful implementation of the proposed project.
Exemplary Moderate Minimal None
The applicant The applicant details The applicant lists its The applicant fails to
comprehensively the project team project team, and provide details on the
outlines the project including their profiles; identifies project
team members/outline and identifies partners/collaborators, team/collaborators
their skills/contribution partners/collaborators, demonstrating little and lacks evidence of
to the project’s if applicable. The experience in the their expertise and
execution, and identifies applicant has project area. knowledge of the
partners/collaborators, satisfactory expertise project area.
where applicable. and knowledge in the
Applicant has an project area.
excellent track record of
expertise and
knowledge in the project
area and the
management of projects
funded by grant
programs.

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POTENTIAL FOR IMPACT IN IDENTIFIED COMMUNITIES
The proposed solution can further the drive to increase digital financial inclusion and access to a
large demographic that is currently underserved, unbanked, or underbanked via a digital
financial solution.
Exemplary Moderate Minimal None
A strong rationale The rationale or Insubstantial Unconvincing or no
with significant significance of the evidence of need evidence of need
outline of how the project is too general; presented and/or presented; the
proposed service will may address the proposed activities proposed activities
address the needs of need of a generalized inadequately address do not address a
specific underserved population with some need; proposal stated need; no
populations with potential benefits addresses the described benefit or
potential benefits of identified; KPIs may general population improvement for a
change made clear lack detail or clarity. with no specified particular population
through measurable Evidence presented benefit identified; is identified; KPIs are
and sound Key that the project could KPIs are included but missing or irrelevant
Performance impact the community fail to define realistic to the project’s
Indicators (KPIs); a by engaging project and achievable intended impact.
piece of strong beneficiaries. goals.
evidence is
presented that the
project could build a
broad base of
support and create
local community
value.
FAMILIARITY WITH THE INTERLEDGER PROTOCOL
Demonstrated experience and knowledge of Open Payments technologies, Interledger Protocol,
and the thrust to increase digital financial inclusion globally.
Exemplary Moderate Minimal None
A strong presentation Showcased some Insubstantial No information or
of the level of exposure to evidence was evidence was
applicant/team’s open-source presented of the provided of the
experience and technologies, along applicant’s applicant’s
familiarization with with a significant knowledge and involvement,
open-source, open understanding of the involvement in interface, or
payments Interledger Protocol. open-source, knowledge of
technologies The applicant has open-payment open-source or

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including the had minimal technologies. Limited open-payment
Interledger Protocol engagement within engagement within technologies.
and the work being the Interledger the Interledger
done by the ecosystem. ecosystem.
Interledger
Foundation. The
applicant referenced
and provided details
of activities
completed, materials
reviewed, and events
participated in within
the Interledger
ecosystem.
USABILITY OF THE PROPOSED FINANCIAL SERVICE
The vision of the proposed financial service is logical and the service is well-defined with a clear
rationale for funding to support prototype development. The integration of the Interledger
Protocol/Rafiki is practicable.
Exemplary Moderate Minimal None
The applicant A strong case for a The applicant has an The proposed
provided requisite digital financial idea that requires financial service does
details of the service is presented further development. not adhere to the
proposed digital but lacks a The path of product logic/standards of the
financial service, and reasonable outline for development and Interledger
how it will evaluate prototype prototyping is unclear Protocol/Rafiki.
user experience and development and and the submission is
has outlined user missing key
extensively the testing/engagement; documentation to
development work to the submission support the
be done through includes the submission.
measurable and diagrams and
sound Key technical
Performance documentation for
Indicators (KPIs); ILP/Rafiki integration
relevant documents which requires further
outlining the flow and improvement.
integration of ILF
technologies with the
proposed financial
service are provided.

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REALISTIC BUDGET & TIMELINES
The budget & timelines are detailed, clear, and feasible to implement the project.
Exemplary Moderate Minimal None
Exceptionally The work plan and The work plan and Poor work plan and
well-structured work related budget could related budget show estimate of resources
plan and related be refined and inconsistencies with needed for
budget; project risks present gaps or the outcomes which implementing the
are outlined with leaps; some risks are are unlikely to be project; no risks have
sound mitigation outlined, and the achieved in the been identified with
plans. mitigation plans seem project’s current form; no plans for
to generally address risks are not clearly mitigation.
the risks but lack outlined with no clear
detail. mitigation plans.
BUDGET PREPARATION
The program aims to fund specific projects with clear and realistic budgets that align with a work
plan. The online application will include a budget template to be downloaded, completed, and
uploaded with the submission. Applicants should provide the budget for each cost category, if
applicable, and a description of those expenses in the application. Kindly note that the
descriptions for each line item are very critical. Applicants MUST provide detailed description of
line items which can include staff/contractors rates, anticipated work hours, number of and which
events/conferences are being considered, software to be purchased or subscriptions, etc.
Templates not completed will be deemed incomplete.
Kindly note that The Interledger Foundation reporting currency is U.S. dollars. To limit financial
risk through transactions and exchanges, The Interledger Foundation requests that all budgets
be submitted in U.S. dollars.
You may preview the budget spreadsheet here.
TIMELINE PREPARATION
The project timeline is intended to provide a detailed work plan that outlines anticipated
activities. It should outline key actions necessary to implement the project and when they are
expected to occur according to a timeline. The work plan should describe specific tasks aligned
with the project's KPIs, milestones, and deliverables.

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The online application will include a timeline template that the applicant should download,
complete, and upload. Please provide a detailed representation of activities to be undertaken
and milestones to be completed within the specified timeframe. You may review the timeline
template here.
Communication With Applicants Before Submission
The Interledger Foundation’s program team is available to provide support and guidance
throughout the grant process. We have various means by which persons may contact and
connect with us. Here’s a list of where and how you may reach us, depending on the nature of
the support you seek.
Grant Inquiry Request You may submit questions about the grant program to our program
team. Our team will respond within 24-48 hours (provided there is
no weekend or public holiday).
Depending on the nature of the question, we may provide the
applicant with the necessary link to secure a 15-minute meeting for
further discussion.
Interledger Slack Our Interledger Community Slacks consist of staff, grantees, and
contributors across the Interledger ecosystem.
#Financial Services CFP The grant-specific Slack channel is dedicated to Digital Financial
Channel Services grant applicants. You may pose general and technical
questions to the program and tech team.
ILF Program Team You may reach us directly at programteam@interledger.org.
Communication With Applicants After Submission
Applicants are expected to maintain and update their contact information as needed in the grant
management system (Submittable) or send notice of any changes to the Interledger Foundation
Program team in writing via email (programteam@interledger.org). The primary contacts
(submitter and project lead) listed for applications may be contacted by the Interledger
Foundation Program team during any stage of the review process.