Digital Financial Services FAQ

The Digital Financial Services Grant is an Interledger Foundation funding program for financial services providers that are ready to implement interoperable payment infrastructure.

The grant will support organizations to integrate the Interledger technology stack (Rhyza, Interledger Protocol, Open Payments APIs), and test digital financial services with real users, customers, merchants, or institutional partners.

Selected organizations may receive up to $350,000 USD per award.

The Interledger Foundation expects to make a maximum of three awards.

Projects will be implemented over 18 months.

Yes. While applications may be considered from eligible organizations in different markets, the Interledger Foundation is particularly interested in strengthening network participation in Colombia, the wider Americas, and across multiple markets or regions where new integrations could create broader interoperability and ecosystem value.

Project quality, readiness, and strategic value will remain important considerations in the selection process.

The grant is intended for regulated or regulation-ready financial service providers.

Eligible organizations may include credit unions, savings and credit cooperatives, remittance providers, community-based financial institutions, digital wallet providers, and other regulated/regulation-ready financial service providers.

Applicants should have the organizational and technical capacity to undertake integration and progress toward a real-world pilot during the grant period.

Applicants should demonstrate either appropriate regulatory authorization or a credible path toward obtaining the authorization required for the proposed service. Organizations that are still progressing toward authorization should clearly explain their current status, outstanding requirements, expected timelines, and how regulatory approvals will affect implementation.

The program is intended primarily for implementation-ready financial service providers.

An early-stage organization would therefore need to demonstrate sufficient technical, regulatory, operational, financial, and organizational capacity to undertake the proposed integration and pilot successfully.

Not necessarily. Applicants should either have an existing customer base or present a credible plan for onboarding users, customers, merchants, financial institutions, or other partners during implementation.

Projects should be capable of progressing beyond a technical demonstration to testing in a real-world environment.

No. Previous Interledger implementation experience is not required.

Applicants should, however, demonstrate sufficient technical readiness, internal expertise, or implementation support to successfully undertake Rhyza integration during the grant period.

Yes. Rhyza integration is a core component of this funding opportunity. Applicants should explain how the technology fits within their proposed architecture, payment flow, and digital financial-service use case.

Rhyza is the next generation of Rafiki. It keeps Rafiki's purpose and is rebuilt around what its deployments taught us, with an architecture designed for larger networks and more connected apps. Rafiki was recognized as a Digital Public Good in 2026, and Rhyza carries the same commitment to open, freely available infrastructure.

Rhyza is free, open source software that connects a financial service provider’s existing infrastructure to Interledger, so it can make payments across systems and currencies and offer Open Payments-enabled accounts and services. It is the next generation of Rafiki, rebuilt for larger networks and easier integration.

Rhyza is currently in alpha and is expected to be production-ready by the end of Q2 2027. Grantees begin work at the start of Q2 2027, so early integration and testing will take place alongside the final stages of Rhyza’s development, with support from our technical team.

Yes. Rhyza implements Open Payments, so applicants should consider how Open Payments will support the proposed payment experience and how it will be incorporated into the project's technical architecture and implementation.

Learn more about Open Payments APIs.

While development, testing, and validation may form part of the project, the grant is intended for implementation-ready organizations.

Competitive proposals should demonstrate a credible pathway from technical integration and interoperability testing to a pilot involving real users, customers, merchants, or institutional partners.

Funding may support costs associated with technical integration, infrastructure improvements, API development, security, regulatory and compliance readiness, network and settlement testing, customer or partner onboarding, pilot deployment, monitoring and evaluation, documentation, and other activities directly related to successful implementation. Proposed costs should be clearly connected to the project's implementation objectives.

Yes. Eligible activities may include legal support, licensing-related activities, risk-management frameworks, data protection, and security compliance where these activities are necessary for successful implementation.

Yes. Applicants may build upon existing platforms, infrastructure, products, customer relationships, and technical systems. Applications should clearly distinguish between what already exists and what will be developed, adapted, or integrated through the grant.

The application process has two stages.

During Phase 1, organizations submit a streamlined initial application describing their organization, proposed project, implementation approach, anticipated outcomes, capacity, budget, and indicative workplan. Applications will be reviewed for strategic fit, feasibility, readiness, and potential ecosystem value.

Shortlisted applicants will then submit a detailed full proposal.

Invited applicants should expect to provide additional information on technical architecture, implementation planning, milestones, regulatory readiness, budget, risk management, monitoring and evaluation, pilot design, and sustainability.

No. An invitation to Phase 2 means that an application has advanced to the next phase of the competitive selection process. Final funding decisions will be made following review of the full proposals.

Applications will be assessed based on the overall strength and readiness of the proposed project, including its alignment with the goals of the grant, the relevance of the proposed use case, technical feasibility and integration readiness, and the applicant’s regulatory, compliance, operational, and organizational capacity. Reviewers will also consider the organization’s potential to participate meaningfully in an interoperable payments network, its ability to pilot the proposed solution with real users or partners, and the quality and practicality of its implementation approach. 

Additional consideration will be given to the project’s potential to improve access, efficiency, or affordability in digital financial services, its prospects for sustainability beyond the grant period, and the value it could contribute to the wider Interledger ecosystem. 

Geographic representation and opportunities to strengthen or expand the network may also be considered when shaping the final cohort.

Each organization will receive dedicated support from an Interledger Foundation Program Lead and Technical Lead.

Support will also include monthly implementation sessions, ongoing access to technical assistance, ecosystem connections, peer-learning opportunities, and opportunities to showcase project progress and results.

Awardees will be responsible for participating in regular project reporting and providing updates throughout the grant period. This may include progress reports, project communications, milestone updates, and final impact and learning documentation. 

Reporting may cover areas such as technical implementation, regulatory and compliance progress, project milestones, network participation, budget performance, pilot results, adoption or usage data, lessons learned, and plans for sustainability beyond the grant period.

Grant funding will be released in milestone-based tranches aligned with project implementation timelines and agreed payment intervals. 

Payments will be made following satisfactory progress against agreed milestones.

By the end of implementation, successful projects should aim to demonstrate:

• Working Rhyza integration
• A live Interledger connection with at least one partner institution
• Live transactions involving real users
• Evidence of improved financial-service delivery
• Useful implementation evidence and documentation
• A credible strategy for sustaining or scaling the service beyond the grant.

Applicants are encouraged to review the full application guidelines and supporting resources before applying.

• Grant Resource Kit: Application guidelines, templates, FAQs, and supporting materials: program resource kit (se abre en una pestaña nueva) 
• Technical Resources: Learn more about Rhyza, Open Payments APIs: https://interledger.org/tech/dev-portal/
• Program Questions: contact us at financialservices@interledger.org.