{"id":89713,"date":"2018-10-18T06:00:06","date_gmt":"2018-10-18T13:00:06","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=89713"},"modified":"2020-12-08T19:03:06","modified_gmt":"2020-12-08T19:03:06","slug":"ripple-labs-expanding-via-partnerships-with-gates-foundation-omni-and-nexo","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/ripple-labs-expanding-via-partnerships-with-gates-foundation-omni-and-nexo\/","title":{"rendered":"Ripple Labs Expanding Via Partnerships with Gates Foundation, Omni, and Nexo"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Deputy Director and Principal Technologist of the Bill and Melinda Gates Foundation, Miller Abel, tweeted on Monday that his organization would be partnering with Ripple Labs and Coil to explore ways to help get payment systems to the poor. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We are partnering w\/ <a href=\"https:\/\/twitter.com\/Ripple?ref_src=twsrc%5Etfw\">@ripple<\/a> and <a href=\"https:\/\/twitter.com\/Coil?ref_src=twsrc%5Etfw\">@coil<\/a> to implement the <a href=\"https:\/\/twitter.com\/hashtag\/Interledger?src=hash&ref_src=twsrc%5Etfw\">#Interledger<\/a> Protocol & explore ways <a href=\"https:\/\/twitter.com\/hashtag\/Mojaloop?src=hash&ref_src=twsrc%5Etfw\">#Mojaloop<\/a> can support pro-poor payment systems. <a href=\"https:\/\/twitter.com\/hashtag\/githubuniverse?src=hash&ref_src=twsrc%5Etfw\">#githubuniverse<\/a><\/p>\n<p>&mdash; Miller Abel (@MillerAbel_) <a href=\"https:\/\/twitter.com\/MillerAbel_\/status\/1052576971459321857?ref_src=twsrc%5Etfw\">October 17, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">The announcement was also tweeted out by Kosta Peric, deputy director of the Gates Foundation\u2019s \u2018Financial Services for the Poor\u2019 program.<\/span><\/p>\n<h2>What is Mojaloop?<\/h2>\n<p class=\"p1\"><span class=\"s3\"><a href=\"http:\/\/mojaloop.io\/\">Mojaloop<\/a><\/span><span class=\"s1\"> is an open-source software designed for use by financial institutions to give people a method of sending digital payments, regardless of the bank service they\u2019re using. Paired with Ripple\u2019s XRP cryptocurrency and Coil\u2019s web monetization capabilities, the minds behind this software have tried to build a way to send money to poor parts of the world more quickly.<\/span><\/p>\n<p>The official website claims it can be used person to person, for point of sale transactions, and for payroll.<\/p>\n<p class=\"p1\"><span class=\"s1\">Crypto lending platform <a href=\"https:\/\/cryptoslate.com\/coins\/nexo\/\">Nexo<\/a> and sharing platform <a href=\"https:\/\/www.beomni.com\/\">Omni<\/a> have also recently announced support of XRP, with Nexo accepting it as collateral and Omni letting you get paid in XRP when you rent out your unused stuff.<\/span><\/p>\n<h2>Serving the Underbanked<\/h2>\n<p class=\"p1\"><span class=\"s1\">The Gates Foundation provided funding for Mojaloop, and Ripple Labs is listed on their website as a collaborator. The mission of Mojaloop is right in line with the Gates' Foundations goals of bringing payment systems into environments where they don\u2019t exist or aren\u2019t reliable. They\u2019ve expressed an interest in digital payments to achieve this, stating <a href=\"https:\/\/www.gatesfoundation.org\/What-We-Do\/Global-Growth-and-Opportunity\/Financial-Services-for-the-Poor\"><span class=\"s3\">on their website<\/span><\/a>: <\/span><\/p>\n<blockquote>\n<p class=\"p1\"><span class=\"s1\">\u201cPerhaps the most important condition for the development of new, pro-poor payment systems is interoperability \u2013 the ability of customers to transact with any other customer, whether they use the same service provider or not. This kind of\u00a0open-loop system substantially lowers the costs and complexity of digital financial services and payment platforms. Opening up payment infrastructure to new kinds of companies outside of traditional banking organizations can help accelerate the development of these systems.\u201d<\/span><\/p>\n<\/blockquote>\n<p class=\"p1\"><span class=\"s1\">Ripple Labs is far from the only company looking to expand digital payments into poorer countries. Binance launched its first fiat to crypto exchange today in Uganda and plans to expand further into Africa. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">According to Abel, Mojaloop was demonstrated Oct. 17 at the Githubuniverse conference in San Francisco. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Deputy Director and Principal Technologist of the Bill and Melinda Gates Foundation, Miller Abel, tweeted on Monday that his organization would be partnering with Ripple Labs and Coil to explore ways to help get payment systems to the poor. We are partnering w\/ @ripple and @coil to implement the #Interledger Protocol &#038; explore ways #Mojaloop [&hellip;]<\/p>\n","protected":false},"author":93,"featured_media":1908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5789],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ripple Labs Expanding Via Partnerships with Gates Foundation, Omni, and Nexo<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/ripple-labs-expanding-via-partnerships-with-gates-foundation-omni-and-nexo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple Labs Expanding Via Partnerships with Gates Foundation, Omni, and Nexo\" \/>\n<meta property=\"og:description\" content=\"Deputy Director and Principal Technologist of the Bill and Melinda Gates Foundation, Miller Abel, tweeted on Monday that his organization would be partnering with Ripple Labs and Coil to explore ways to help get payment systems to the poor. We are partnering w\/ @ripple and @coil to implement the #Interledger Protocol &amp; explore ways #Mojaloop [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/ripple-labs-expanding-via-partnerships-with-gates-foundation-omni-and-nexo\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-18T13:00:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-12-08T19:03:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/11\/cryptoslate-cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"John Bogna\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ripple Labs Expanding Via Partnerships 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