Open Source: Companies, Investors & News

The Interledger Foundation is a U.S. nonprofit working to make digital payments more open, affordable, and accessible. It supports open payment technology and funds the developers, researchers, educators, and organizations building on it. Its work began with the Interledger Protocol, created in 2015 by Stefan Thomas and Evan Schwartz. The goal was to help money move between different banks, wallets, currencies, and payment networks as easily as information moves across the internet. The foundation became a nonprofit in 2019 and began operating publicly in 2021. Briana Marbury serves as president and CEO. Stefan Thomas chairs the board, and Evan Schwartz remains a director. The organization is based in San Francisco but has a distributed international team. The foundation supports three main technologies. The Interledger Protocol moves value between different financial systems. Open Payments gives developers a standard way to add payment features to their products. Rafiki provides open-source software that banks, wallets, and other regulated financial institutions can use to connect. The foundation does not charge a fee for using the protocol and has no investors. Grantmaking is also a major part of its work. The foundation reports awarding more than $21 million to over 300 projects across more than 45 countries. Its programs support payment infrastructure, education, research, leadership, public policy, and creative work exploring how financial systems are built. Grants range from small campus awards of up to $5,000 to larger fellowships and accelerator programs offering between $50,000 and $92,000. The foundation reported $96.4 million in net assets and $10.6 million in charitable distributions for the year ending December 2024. This financial base allows it to fund open payment technology and expand access to financial services without relying on protocol fees or outside investors.