With the aim of scaling digital financial services for all, Mojaloop, an open-source software project backed by the Bill & Melinda Gates Foundation, has announced the launch of the Mojaloop Foundation.

With additional support from founding sponsors Omidyar Network, the Rockefeller Foundation, Coil, Google, and ModusBox, the foundation will work to maintain and advance its free open-source software as a public good in service of financial inclusion globally. Released by the Gates Foundation in 2017 to support its financial inclusion work, the software serves as a blueprint for how to simplify and reduce the cost of payment interoperability, enabling banks, digital service providers, government agencies, NGOs, and other entities to develop tools that increase opportunities for low-income and unbanked individuals to access financial services