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We've upgraded the Chimoney API to v0.2.4, bringing you powerful new features and updates to improve your integration experience!
___
## What's New:

### New Beneficiary Management Routes

Our latest update simplifies beneficiary management with new endpoints:

- **[Get Account Beneficiaries](https://chimoney.readme.io/reference/get_v0-2-4-beneficiary)**: Retrieve all beneficiaries associated with an account.

- **[Create a Bank Beneficiary](https://chimoney.readme.io/reference/post_v0-2-4-beneficiary-bank)**: Add bank beneficiaries with streamlined validation.

### Enhanced Info Routes

- **[Bank Search](https://chimoney.readme.io/reference/get_v0-2-4-info-bank-search)**: Search for banks in specific countries (international banks supported)

- **[Get Beneficiary Rules](https://chimoney.readme.io/reference/get_v0-2-4-info-beneficiary-rules-countrycode)**: Access country-specific validation rules for beneficiaries

_Check out our [**latest blog post**](https://chimoney.io/blogs/effortless-global-payouts-via-api-manage-beneficiaries-and-send-money-with-chimoney/) for more information on how you can integrate these new endpoints._
___

### Improved Error Handling

We've also expanded our documentation with comprehensive guides on:

- Error types and status codes

- Best practices for handling different error scenarios

- Detailed error code descriptions and resolution steps

_Visit the new [**error handling page**](https://chimoney.readme.io/reference/error-handling) to learn more about the improved error messages and resolution steps._
___

## Get Started

Upgrade to v0.2.4 today to take full advantage of these new features! Check out our [**updated documentation**](https://chimoney.readme.io/reference/introduction) for implementation details and examples.

For any questions or support, feel free to reach out to us at support@chimoney.io.

Chimoney API v0.2.4 is here! 🚀 Introducing new beneficiary management endpoints, improved bank search,  and improved error handling. Upgrade now for a smoother integration experience. 

Chimoney API Update: v0.2.4 Now Live! 🚀

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From the bustling streets of Nigeria to the heart of Canada's tech hubs, here's how Chimoney is set to change the financial world, backed by Techstars. 🚀🌟

I am excited to share that we're now backed by [Techstars](https://www.techstars.com/portfolio?q=chimoney), one of the world's most renowned startup accelerators!

But how did we get here? What are we doing right now? And where are we doing?

At the heart of every invention lies a story, often deeply personal and rooted in real-world challenges. My journey with Chimoney is no different. When I first conceived the idea of Chimoney, it was more than just another fintech venture. It was a vision - a dream to connect every payment network globally, ensuring seamless fund flow to anyone, anywhere, regardless of currency, country, or financial status. Today, as I sit down to write about this significant milestone in Chimoney's journey, I'm overwhelmed with a whirlwind of emotions, gratitude and excitement, and memories.

&nbsp;
## From Nigeria to Canada: A Dream, A Struggle

My journey into the world of fintech was not just a mere business endeavor. It was personal.  Growing up in Nigeria, I've seen the challenges people face when making cross-border transactions or simply trying to get paid for their hard work. The barriers, the delays, the fees - it seemed so unnecessarily complicated. 

Moving from Nigeria to the snowy landscapes of Canada was a decision fueled by dreams of a brighter future. The UofS promised a world of opportunities. But those dreams were soon clouded by the harsh realities of financial struggles, an outcome of government instability back home. Each day became a race against time, with the looming threat of unpaid tuition and a [jeopardized student visa status and deportation.](https://medium.com/@uchi/i-could-not-pay-my-tuition-and-i-almost-dropped-out-of-university-79fdb54414)

Yet, amidst this chaos, the dream persisted. Through sheer determination and countless hours of hard work, I not only graduated but went on to contribute to tech giants like Shopify, RBC, and IBM Canada. Success in the corporate world, however, didn't mean the end of my journey; it was just the beginning. Today marks the beginnings of another new beginning for Chimoney!

&nbsp;
## The Birth of Chimoney
Inspired by the zeal to give back and create a community to connect ambitious Africans to tech opportunities globally, I founded AfricaHacks, a platform nurturing innovation and entrepreneurship among African youth. But an all too familiar challenge resurfaced. Paying winners spread across Africa and in 10 other nations became a painstaking task, echoing the financial challenges I faced years ago.

This obstacle, ironically, became the inception of Chimoney. A platform designed not just as a business but as a solution to a problem millions face daily.

&nbsp;
## What Sets Chimoney Apart
In a world teeming with fintechs, what sets Chimoney apart? What sets Chimoney apart is not just its audacious vision but also its proven capability. Our system is designed to manage high-volume payouts across countries, geographies, and payment networks, ensuring businesses can trust us for their most demanding payment needs. Our unwavering commitment to creating a platform free from regulatory risks. Imagine a world where businesses could send money globally using just an email or phone number. A world where recipients, irrespective of where they are, can access their funds seamlessly, cashing out through banks, mobile money, airtime, crypto and more.

The global payments ecosystem is vast, with trillions flowing cross-border annually. As businesses expand their horizons and remote work embeds itself in our culture, the quest for straightforward, secure global payouts is more relevant than ever. Chimoney taps into this immense potential, offering a solution that's both innovative and intuitive.

Yet, every innovation comes with its set of challenges. In the fintech world, it's the intricate labyrinth of regulations and the ever-present foreign exchange risks. But, Chimoney turned these challenges into opportunities. By forging alliances with local entities globally, we ensure adherence to regional regulations, simultaneously leveraging local expertise to mitigate foreign exchange risks. This local-global approach ensures our users experience unparalleled convenience without the usual hassles.

Our vision goes beyond just transactions; we aim to seamlessly facilite the flow of funds, ensuring businesses can trust us as the ONE PLATFORM with their high-volume payout needs across all countries, geographies and payment networks with security, and compliance priortized.

**Today, Chimoney’s solutions are tailored for:**
- Global businesses trying to remunerate remote teams, contractors, affilaites and community members.
- Reward platforms aiming to simplify payouts and reward redemption.
- Gig economy platforms trying to streamline payments.
- And any business that values the power of truly global transactions.

With the global payouts market expanding rapidly, Chimoney offers an unmatched solution that promises not just social impact but a robust business model.

Are you a business looking to simplify your global payouts? [Discover how Chimoney can revolutionize your payment processes.](https://chimoney.io/blogs/on-building-a-network-of-payment-networks-at-chimoney)


[![Chimoney - Homepageimage_.png](/uploads/Chimoney_Homepageimage_3d7827b4b0.png)](http://chimoney.io/)

&nbsp;
## How Chimoney works

With Chimoney, anyone can [send bulk payouts](https://chimoney.io/payouts) to emails or phone numbers with just a few clicks. There's no need to collect complicated bank details. Whether you need to pay one person or a million people, we've got you covered.

The process is essentially the same, and our users can send bulk payments to a global audience, saving them a lot of time and headaches. Efficiency is at the core of what we do. We're here to streamline the process, eliminate the hurdles, and make financial transactions a breeze.

In a world where traditional banking systems can be slow, expensive, and exclusionary, Chimoney offers a refreshing alternative.

We also provide other fintechs with access to our Chimoney APIs, giving them a chance to scale without breaking the bank and supercharge their growth to effectively serve their markets. Our support for these startups allows them to access Chimoney’s partner perks and discounts, send global payouts, convert payments from multiple currencies, and cash out to bank accounts, mobile money, 300+ gift cards, and airtime in 15 currencies while earning profit – all this with our 24/7 dedicated support.

At Chimoney, we believe that by uplifting others, we have a greater chance to achieve our mission of unlocking economic opportunity for everyone.

&nbsp;
## Chimoney x Techstars: A Match Made in Startup Heaven

Our alignment with Techstars is a testament to our vision and the potential they see in Chimoney. Techstars is renowned for nurturing startups, providing mentorship, investment, and resources that propel startups to new heights of success. The program aligns seamlessly with our vision of simplifying global payments and fostering financial and economic empowerment.

As we embark on this new chapter, our commitment remains unwavering: to revolutionize global payouts, making them as simple as sending an email.


Our acceptance into Techstars Toronto is a validation of our vision and the impact we're making. We're excited to work with Techstars to accelerate our growth and further our mission of financial inclusion.


&nbsp;
### Why Techstars?

Techstars, with its proven track record of nurturing startups into industry-leading giants, resonated with our mission. Their faith in our vision is not just about funds; it's a testament to the potential they see in us. It's about collaboration, growth, and pioneering innovations. When you think of top companies emerging from accelerators, Techstars always makes the list, often debated alongside names like Y Combinator.

[![Uchi Uchibeke, Sunil Sharma at IDEA.jpeg](/uploads/Uchi_Uchibeke_Sunil_Sharma_at_IDEA_971ab730e0.jpeg)](https://www.linkedin.com/feed/update/urn:li:activity:7082342164264878080?utm_source=share&utm_medium=member_desktop)
_Vinay Paramanand, City of Mississauga, Ontario, Sunil Sharma, Managing Director, Techstars Toronto with Uchi Uchibeke, CEO, Chimoney_

&nbsp;
## A Personal Note from Uchi

As I reflect on this significant milestone, I'm reminded of the African Proverb quote “If you want to go fast, go alone, if you want to go far, go together”. This journey, from conceptualizing Chimoney to now partnering with Techstars, has been filled with challenges and triumphs. But the consistent thread through it all has been the unwavering support from our users, our team, and believers in our vision. And we are constantly looking to collaborate and form strategic partnerships that align with our mission and propel us to new heights.

To our potential partners and clients, I invite you to experience the Chimoney difference. Let's redefine global payouts together.

And to our users, partners, and every individual who's been a cornerstone in our journey, a heartfelt thank you. The future of global payouts is here, and together, we're writing its story!

&nbsp;
## The Road Ahead

At Chimoney, we believe in a world without financial borders. With Techstars by our side, we're gearing up for rapid growth and innovation. We'll be diving deeper into research, refining our offerings, and expanding our reach. For our B2B clients, this means even more robust, reliable, and efficient global payout solutions. It's about ensuring that no matter where your team or clients are, Chimoney has got you covered.

We are also actively exploring strategic collaborations to accelerate our trajectory and make global payouts even more accessible.

&nbsp;
## Connect with Chimoney?

- Want to stay connected with all the updates and news from Chimoney?
- You can join the [Chimoney community](https://discord.gg/Q3peDrPG95) and subscribe to our [monthly newsletter](https://chimoney.substack.com/). 
- You can also connect with us on social via our [LinkedIn](https://www.linkedin.com/company/chimoney/) and [Twitter](https://twitter.com/home) pages.


Experience the future of payments - [Book a demo Now](https://chimoney.io/payouts?book_a_demo=1)!

---


Chimoney's partnership with Techstars marks a turning point in global payments, working towards economic empowerment for all. Discover how we're simplifying finance and fostering inclusion.

Techstars backs Chimoney to Revolutionize Global Payouts

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## Introduction
Welcome to the next chapter of Chimoney's journey! We're excited to announce a groundbreaking collaboration that's set to redefine the landscape of global payouts. [Chimoney has partnered with Corpay](https://finance.yahoo.com/news/chimoney-corpay-collaborate-revolutionize-global-140000393.html), a FLEETCOR® brand  and global leader in business payments.

## Exploring the Partnership:
At Chimoney, we've always been on a mission to connect payment systems worldwide. This partnership with Corpay amplifies that mission. Imagine a world where all cross-border transactions are as easy as sending an email or text message. Bringing that level of ease to everyone is what this collaboration is all about.

## Benefits for Chimoney Users:

Through this partnership, Chimoney users will enjoy: 
- Access to Corpay's Cross-Border solutions. 
- Access to more cash out options and [payouts to bank accounts in the 130+ countries](https://chimoney.io/payouts).

Those are just a few of the immediate benefits this partnership will bring to our users, more impactful improvements are being worked on as we speak. Watch this space!

## Insights from the Partnership:
“Corpay is very pleased to announce our commercial partnership with Chimoney. I have no doubt that Chimoney’s customer base can benefit greatly from our specialized service and access to our comprehensive cross-border payments and currency risk management solutions.” said Frank Mannarino, Vice President and head of Channels and alliances, at Corpay Cross-Border Solutions. “The team at Corpay is excited to build long-term business partnerships with customers and power their international payments, help them execute their plans to manage their currency risk, and support their growth internationally.”

For us at Chimoney, this collaboration is more than just a business partnership; it's a commitment to supporting the growth of of clients on an international scale. 

Our vision at Chimoney is clear: [To connect all payment networks globally](https://chimoney.io/blogs/on-building-a-network-of-payment-networks-at-chimoney), enabling people everywhere to get paid with minimal complexity. This partnership ensures compliance with local regulations and leverages Corpay's expertise to manage foreign exchange risks, reducing complexities for our users and corporate clients.

Our Founder and CEO, Uchi Uchibeke also expressed his enthusiasm at what the partnership can bring, saying: “This collaboration with Corpay amplifies our vision of creating seamless access to more payout options and countries. With Corpay’s expertise and platform, we are poised to offer our customers access to a more expansive and efficient payout ecosystem. This is not just a partnership; it’s a synergy where innovation meets scale. For businesses and partners, it’s clear: Chimoney is setting new standards in fintech, constantly pushing boundaries, and striving for excellence".

## Our Final Thoughts:
This collaboration is a significant step in alignment with our commitment to financial inclusion, economic empowerment, and a frictionless payout experience. We're not just partnering with Corpay; we're creating a synergy where innovation meets scale for the greater good of the world.

## Let's work Together
The Chimoney team is ever ready to keep innovating and shaping the future of global payouts. [Book a demo with us now to see how we can help facilitate seamless payments for your business!](https://chimoney.io/book-a-demo)


Learn about the biggest news in the world of global payouts, Chimoney's groundbreaking collaboration with Corpay. Uncover how this partnership enhances cross-border payment solutions, offering users unparalleled flexibility. Join us on this journey where innovation meets scale, setting new standards in fintech.

Innovation Meets Scale: Chimoney Forges An Impactful Partnership With Corpay

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Cross-border remittances remains one of fintech's most persistent challenges as traditional payment infrastructure creates unnecessary friction in building truly global applications. 

[Chimoney and Interledger](https://chimoney.io/blogs/chimoney-and-interledger-expanding-global-financial-access/) partnered in an effort to solve the three main challenges faced in cross-border transfers; high cost, slow processing and lack of transparency. Let's dive into how the integration of Chimoney with Interledger Protocol (ILP) solves these challenges.

## Understanding the Cross-Border Challenge
The technical complexities of [cross-border payments extend far beyond simple currency conversion](https://chimoney.io/blogs/chimoney-s-guide-to-navigating-cross-border-payments-and-global-expansion/). Each region has its own payment rails, compliance requirements, and preferred payment methods. Building direct integrations with each system is impractical for most development teams, yet using traditional banking rails means accepting high fees and slow settlement times.

## The Power of Chimoney + ILP Integration
What makes the Chimoney-ILP combination particularly powerful is how it abstracts complexities while maintaining flexibility. Through a single integration with Chimoney's API, developers can access services like P2P wallet transfers, powered by the Interledger Protocol (ILP) and enabled through payment pointers.

The technical implementation leverages ILP's packet switching for value transfer, similar to how the internet routes data packets. By integrating Interledger’s open payments API, [Rafiki](https://rafiki.dev/overview/concepts/interledger/), Chimoney enables the issuing of payment pointers and the transfer of value from one payment pointer to another without the traditional complexities associated with cross-network transactions, such as intermediary fees or delays.

## Core Technical Capabilities

From an implementation standpoint, you get:
- [Payment pointers](https://chimoney.io/usecases/interledger-issue-payment-pointers/) for simplified addressing (think email addresses for payments)
- [Transfer of value](https://chimoney.io/usecases/interledger-receive-and-send-payments/) between payment pointers.

## Real Use Cases
Integrating Chimoney’s Interledger Protocol (ILP) enabled solutions opens up numerous possibilities across various sectors. Here, we will explore two detailed use cases: building a freelance marketplace and creating an emergency aid distribution system for NGOs.

### Use Case 1: Freelance Marketplace
![Interledger blog 2.png](/uploads/Interledger_blog_2_1a2c3f2038.png)

Chimoney's API can significantly streamline payment processes in a freelance marketplace. Here’s a step-by-step breakdown of how this integration works:

**Step 1: Multi-Currency Wallet Setup**

_Create Wallets_: Set up Chimoney multi-currency wallets (USD, CAD, NGN) for both freelancers and payers. This allows transactions in various currencies, accommodating users from different regions.

**Step 2: Issue Payment Pointers**

_Generate Payment Pointers_: Create unique payment pointers for both the freelancer and the payer. These pointers serve as simplified addresses for sending and receiving payments, similar to email addresses.

**Step 3: Payment Flow**

_Task Completion_: Once the freelancer completes a task, they notify the payer that the work is done.

_Initiate Payment_: The payer sends payment directly to the freelancer’s wallet by transferring funds from their own payment pointer to the freelancer’s payment pointer.

### Use Case 2: Emergency Aid Distribution System for NGOs
![Interledger blog 3.png](/uploads/Interledger_blog_3_1ff38a5725.png)

Another application of Chimoney's ILP integration is in the development of an emergency aid distribution system for non-governmental organizations (NGOs). 

Here’s how it can be structured:

**Step 1: Multi-Currency Wallet Creation**

_Set Up Separate Wallets_: Create distinct multi-currency wallets for different aid programs within the NGO. This organization helps track funds allocated to various initiatives.

**Step 2: Issue Payment Pointers**

_Generate Payment Pointers for Beneficiaries and the Organization_: Both the organization and each beneficiary are assigned unique payment pointers linked to their respective wallet accounts. These payment pointers allow for easy identification and tracking of aid distribution.

**Step 3: Instant Value Transfer**

_Disbursement of Funds_: When aid is ready to be distributed, the NGO can instantly transfer value from its program-specific wallets to the beneficiaries' wallets using their respective payment pointers.

## Chimoney App Case Study
![Interledger blog 4.png](/uploads/Interledger_blog_4_271645dd76.png)

[The Chimoney App](https://chimoney.app/), powered by the Interledger Protocol (ILP), is transforming peer-to-peer payments for Canadians by eliminating the need for traditional banking intermediaries. When users create an account, they are assigned a unique Interledger Payment Pointer, which acts as a simplified identifier for direct money transfers. 

The ILP integration ensures secure and compliant transactions while simplifying the payment process with its interoperable infrastructure. 

To discover more about the Chimoney App and its features, click [here](https://chimoney.app/blog/chimoney-app-transforming-how-canadians-achieve-financial-freedom).

## Future Developments
An exciting upcoming development is Chimoney’s integration of Web Monetization, which, still building on the foundation of the Interledger Protocol (ILP) , transforms the way value is transferred online allowing websites and applications to stream payments in real time. 

Leveraging this technology, Chimoney aims to make monetization more accessible, seamless, and inclusive for creators, developers, and businesses globally.

Through the integration of Web Monetization with Chimoney, users can:
- **Earn Micro-Payments in Real Time**: Websites and platforms can stream payments directly to creators via Chimoney Payment Pointers, bypassing the need for traditional ad-based revenue models.

- **Enable Inclusive and Global Monetization**: With Chimoney’s multi-currency wallets and global reach, value can be transferred across borders efficiently, breaking down geographical and financial barriers.

- **Enhance Engagement and Transparency**: By rewarding users instantly for actions like engaging with content, completing tasks, or contributing to open-source projects, Chimoney enables a frictionless, privacy-respecting monetization model.

## Conclusion
The combination of Chimoney and ILP represents a significant step forward in making cross-border value transfer accessible to companies and developers alike. 
Ready to start implementing? Check out the [Chimoney API documentation](https://chimoney.readme.io/reference/post_v0-2-accounts-issue-wallet-address). The future of cross-border payments is being built one integration at a time!


Learn how Chimoney and Interledger are revolutionizing cross-border remittances through low-cost, fast, and transparent payment solutions for global transactions.

Building the Future of Cross-Border Remittances with Chimoney and Interledger

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Web Monetization is an easy way for creators to earn directly from their audience and for supporters to instantly fund/support the content they love.

Chimoney makes this process simple by providing wallets that are fully compatible with web monetization for receiving and sending payments. In this guide, we’ll take you step-by-step through the process of setting up a Chimoney App account to sending or  receiving your first payment either as a supporter or a creator.

## Before You Begin
You’ll first need to download the Chimoney App and complete your KYC (Know Your Customer) verification.  Get the app from the [**Play Store (Android)**](https://play.google.com/store/apps/details?id=com.usescrim.app) or [**App Store (iOS)**](https://apps.apple.com/us/app/chimoney-app/id6444027378). Once it’s installed, you’re ready to follow the steps below:

#### 1. Create Your Account
- On the welcome screen, enter your email, username, and a secure password or sign up with Google or Apple.

![Web Mo 1.png](/uploads/Web_Mo_1_c401728ec4.png)

- Check your email for a 6-digit code, then enter it in the app to verify your email.

![Web Mo2.png](/uploads/Web_Mo2_e2d9636d0e.png)

- Set up a 4-digit PIN (used for logging in and approving transactions). Confirm it on the next screen.

![Web Mo 3.png](/uploads/Web_Mo_3_e82f0b7020.png)

#### 2. Claim Referral (Optional)
- If you have a referral code, enter it and tap 'Confirm Referral Code.'
- If you don’t have one, tap 'Skip'. You can complete the KYC process on the next screen.

![Web Mo 4.png](/uploads/Web_Mo_4_027397f5ac.png)

#### 3. Complete Your KYC
- **On the Personal Info screen:** Enter your full name, country of residence, and occupation. Then click on 'Next Step.'

![Web Mo 5.png](/uploads/Web_Mo_5_deb5854165.png)

- **On the Verify Phone screen:** Enter your phone number and click on 'Send Code'. You’ll receive a code via WhatsApp. Enter it in the app and tap 'Verify OTP'.

![Web Mo 6.png](/uploads/Web_Mo_6_023c214cf6.png)

- **Finally in the  ID Verification screen:** Upload a valid government-issued ID (Driver’s License, National ID, Passport, or Voter ID). Then take a clear selfie holding your ID next to your face.

![Web Mo 7.png](/uploads/Web_Mo_7_84af49f65b.png)

![Web Mo 8.png](/uploads/Web_Mo_8_5abcce446e.png)

#### 4. Submission & Approval
- After uploading your ID and taking a selfie as directed, you’ll see a confirmation message.
- The Chimoney Compliance team will review your submission within 24 hours.
- You’ll receive an email with feedback on your KYC review decision, including your account’s transaction limits if your verification is app

![Web Mo 9.png](/uploads/Web_Mo_9_7b335151b7.png)
___
## How to get your wallet Address on the Chimoney App

When your KYC is approved on the Chimoney App, your account is automatically issued an Interledger Wallet Address, navigate to the ‘Account tab’ and click on ‘Interledger Wallet Address’, your wallet address  should look like this: `https://ilp.chimoney.com/username ` or `https://ilp.chimoney.com/123456 `

![Web Mo 10.png](/uploads/Web_Mo_10_88f33aa10a.png)

> **Note**: If you’re a supporter, you’ll need this wallet address to connect to the Web Monetization extension. If you’re a creator, this is the wallet address you’ll add to your website so supporters can pay you directly. Kindly copy it for use in the next steps.
___

Depending on if you’re a supporter or creator, the next steps may be a bit different for you.

- If you’re a supporter, follow the steps under **‘How to get started as a supporter.’**
- If you’re a creator, scroll to **‘How to get started as a Creator’** and follow the steps.

___

## How to Get Started as a Supporter

To support/send money to creators here’s what to do:

#### 1. Fund Your Wallet
In order to be able to make web monetization payments on the Chimoney App, your **USD wallet** needs to have a positive balance:
- On the homepage, click on 'Wallet Funding'.
- Enter the amount and select USD as your currency.
- You will be taken to the Chimoney checkout page where you can complete the funding process depending on your preferred payment rail / location.
- Upon successfully completing the payment, your USD wallet balance should be credited with the amount funded.

![Web Mo 11.png](/uploads/Web_Mo_11_1d4b796ecf.png)

#### 2. Install the Web Monetization Extension
You can Install it from:
- [Chrome Web Store](https://chromewebstore.google.com/detail/web-monetization/oiabcfomehhigdepbbclppomkhlknpii?utm_source=webmonetization.org&utm_campaign=supporters_get_started)
- [Firefox Add-ons](https://addons.mozilla.org/en-US/firefox/addon/web-monetization-extension/?utm_source=webmonetization.org&utm_campaign=supporters_get_started)
- [Edge Add-ons](https://microsoftedge.microsoft.com/addons/detail/web-monetization/imjgemgmeoioefpmfefmffbboogighjl?utm_source=webmonetization.org&utm_campaign=supporters_get_started)

![Web Mo 12.png](/uploads/Web_Mo_12_0ae14b3816.png)

#### 3. Connect Your Chimoney App Wallet
- Open the extension, copy and paste your wallet address from the Chimoney App into the extension.

![Web Mo 13.png](/uploads/Web_Mo_13_eae7738300.png)

- Set your spending budget, this will be allocated from your Chimoney App USD wallet.

![Web Mo 14.png](/uploads/Web_Mo_14_7f2e3600e1.png)

- Click ‘Connect,’ to move to the next step.

![Web Mo 15.png](/uploads/Web_Mo_15_2ce4b7aca8.png)

- Click agree to enable the extension to initiate the process of adding a secure key to your wallet.

![Web Mo 16.png](/uploads/Web_Mo_16_8d4e06a38a.png)

- You will be redirected to the Chimoney App Web Monetization login screen where you can sign in with your Chimoney App email and password on your web browser. Sign in with the same login details or method you use for your Chimoney App account.

![Web Mo 17.png](/uploads/Web_Mo_17_e501a5bf6c.png)

![Web Mo 18.png](/uploads/Web_Mo_18_ba8f11017b.png)

#### 4. Authorize wallet access
- You will then be redirected to approve the Web Monetization Extension’s request to access your Chimoney App Wallet.

![Web Mo 19.png](/uploads/Web_Mo_19_a3681c23b1.png)

- Click ‘Accept’ and you will be redirected to a page confirming that "Your wallet is now successfully connected to the extension."

![Web Mo 20.png](/uploads/Web_Mo_20_5d852dc711.png)

That’s it, you’re ready to support creators!

Next, we’ll cover how to get started as a creator. If you’d like to learn how to send a payment as a supporter, you can skip ahead to the ‘_How to Support a Creator (Send Money to a Creator)_’ section.
___

## How to Get Started as a Creator
To get started as a creator, you need to add your Chimoney App Wallet Address to your Website:
- In your site’s `<head>` tag, paste the following HTML code: 

` <link rel="monetization" href="https://ilp.chimoney.com/yourusername" />`

- Replace `https://ilp.chimoney.com/yourusername` with your correct wallet address copied from the Chimoney App.
- Once added, supporters with Web Monetization extension can start sending you payments as they browse your content.

> **Tip**: If you use no-code platforms like Carrd, Ghost, or Wix, look for a Custom Code or Header Code option in the site settings. If you’re unsure, ask your web admin or a developer friend for help.

___

## How to Support a Creator (Send Money to a Creator)

Once your wallet is funded and connected to the Web Monetization extension, you can start sending money to your favorite creators. There are two ways to do this:

#### 1. Continuous Payments
When you visit a Web Monetized site, the extension will automatically begin streaming micro-payments to the creator in real time as long as the page is open and active. The default rate is $0.60 per hour sent as micropayments of $0.01 or $0.02. These payments are being sent because the extension has ‘continuous payments’ toggled on by default. 

![Web Mo 22.png](/uploads/Web_Mo_22_756a91b3b4.png)

After continuous payments have been streamed via the extension, you can check your Chimoney App wallet to confirm the payouts. You will see ‘Web Mo Payout’ transactions in your transaction history, showing that you have been sending Web Monetization payments.

![Web Mo 23.png](/uploads/Web_Mo_23_92781cf800.png)

Payments are automatically paused if:
- You switch tabs,
- You minimize the browser,
- You close the tab,
- Or your budget runs out


To adjust or turn off continuous payments:
- Click the Settings (⚙️) icon in the extension.

![Web Mo 21.png](/uploads/Web_Mo_21_60ff6665ae.png)

- Navigate to the 'Rate tab'.
- Change the rate or toggle continuous payments off.

#### 2. One-Time Payments
You can also support creators with specific amounts, as long as those amounts do not exceed your wallet balance.
- Enter the amount you want to send (must be within your set budget).
-  Click 'Send Now'.

![Web Mo 24.png](/uploads/Web_Mo_24_fb5c957e5c.png)

As shown below, the payment has been successfully sent to the creator’s wallet and the supporter’s wallet has been debited. Also note that the wallet address of the creator is shown in the transaction details.

![Web Mo 25.png](/uploads/Web_Mo_25_be85fca9d1.png)

![Web Mo 27.png](/uploads/Web_Mo_27_8e574864fc.png)

Sometimes, you might see the notification below after making a payment. Don’t worry, simply check your Chimoney App wallet balance and transaction history to confirm the payment.

![Web Mo 26.png](/uploads/Web_Mo_26_83c2d250e5.png)
___
### What Happens After a Supporter Sends a Payment
Once a supporter sends payment to a creator, the money is instantly deposited into the creator’s Chimoney App wallet. The creator will receive:

- An email notification confirming they’ve received a payment.

![Web Mo 28.png](/uploads/Web_Mo_28_568c0283ce.png)

- ‘Web Mo Deposit’ Transactions in their transaction history, showing that they have received Web Monetization transactions.

![Web Mo 29.png](/uploads/Web_Mo_29_a29f0f119e.png)

As shown above, for each transaction received, the wallet address of the supporter is attached.


> Note: Web monetization payments are anonymous, the creator will not see the supporter’s personal details.

Creators can then withdraw their earnings using any of the following methods:
- **Direct Bank Cashout** – available in Mexico, Canada, U.S., Nigeria.
- **Mobile Money Cashout** – available in 14 countries.
- **Instant Transfer** – SPEI in Mexico, Interac e-Transfer in Canada.
- **Send to Email or Phone Number** – for flexible cashout options in even more countries.

___
## Need Help?
If you need assistance along the way, visit the [**Web Monetization Support Page**](https://helpcenter.chimoney.app/hc/live/en/categories/web-monetization) for step-by-step guides and answers to common questions. Our support team is also available through the Chimoney App if you encounter any issues during setup.

Learn how to earn as a creator or support your favorite content with Web Monetization using Chimoney. Follow our step-by-step guide to set up your wallet, complete KYC, and start sending/receiving payments instantly!

How to Get Started with Web Monetization using Chimoney App

large_Why AI Agents Need Identity and Wallets.png

medium_Why AI Agents Need Identity and Wallets.png

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Why AI Agents Need Identity and Wallets.png


---

_**TL;DR:**_ Regulatory clarity for stablecoins, the rise of Coinbase x402, and new agent-security funding created a once-in-a-decade opening for AI agents that can both hold money and prove identity, so [Chimoney](https://chimoney.io/) is shipping an integrated wallet-plus-passport stack with policy controls to fill that gap.

---

## The convergence nobody saw coming

Three things happened in 2025 that nobody predicted would happen at the same time:

1. The US Congress passed the [GENIUS Act](https://en.wikipedia.org/wiki/GENIUS_Act), giving stablecoins regulatory clarity for the first time.
2. Coinbase launched [x402](https://www.coinbase.com/en-ca/developer-platform/discover/launches/x402), a protocol for AI agents to pay for APIs with crypto.
3. [Kite raised $18M](https://newsroom.paypal-corp.com/2025-09-02-Kite-Raises-18M-in-Series-A-Funding-To-Enforce-Trust-in-the-Agentic-Web) specifically for AI agent authentication and payments.

Within six months, the narrative shifted from "Will AI agents handle money?" to "Which infrastructure will AI agents use?"

I've been building payments infrastructure for seven years. I've never seen a market move this fast.

---

## Why now? Why agents?

Let me tell you what changed.

In 2024, if you wanted your AI agent to pay for something, you had two options:
- Give it your credit card (terrifying)
- Build complex API integrations with Stripe or PayPal (weeks of work)

Neither option solved the real problem: **agents aren't humans**. They don't have credit scores. They can't verify their identity. They operate at machine speed, thousands of transactions per day, often for pennies.

Traditional payment rails weren't built for this.

But here's what I noticed: while everyone was rushing to build "AI agent payment APIs," they were solving the wrong problem.

Agents don't just need **wallets**. They need **passports**.

---

## The Wallet vs. Passport framework

Think about traveling to another country.

You need two things:
1. **A wallet** (to pay for things)
2. **A passport** (to prove who you are)

Try entering a country with just a wallet full of cash. You won't get far.
Try entering with just a passport and no money. Same problem.

AI agents face the exact same constraint.

Stripe gives them a wallet (payments).
Okta gives them a passport (identity).
But nobody gives them both in one platform.

Until now.

---

## What we're building at Chimoney

![Chimoney AI Agent Wallets and Passport Infrastructure Overview.png](/uploads/Chimoney_AI_Agent_Wallets_and_Passport_Infrastructure_Overview_be5ea95d15.png)


For the past 18 months, we've been quietly building what I believe is the first complete infrastructure for AI agents: **wallets AND passports, in one platform**.


Here's what that means in practice:
### 1) The Wallet Layer
- **Interledger payment pointers** (instant, low-cost payments across borders)
- **20+ stablecoins** supported across 5 blockchains
- **Micropayment streaming** (pay $0.0001 per second for API access)
- **130+ countries**, 10+ payment rails

### 2) The Passport Layer (via [APort](https://aport.io/) integration)
- **[W3C Decentralized Identifiers (DIDs)](https://www.w3.org/TR/did-1.1/)** for every agent
- **L4 financial-grade assurance** (backed by our KYC infrastructure)
- **Policy controls** (daily spending limits, approval workflows)
- **Immutable audit trails** for compliance (SOX, GDPR, HIPAA-ready)

### 3) Our regulatory foundation
This is the part that matters for anyone building in regulated industries:
- ✅ **Canadian MSB** (FINTRAC registered Money Service Business)
- ✅ **Bank of Canada PSP** (Payment Service Provider, recently approved)
- ✅ **One of the first production Interledger providers** (showcased at [Interledger Summit in 2024 and 2025](https://chimoney.io/blogs/an-inside-look-at-chimoney-s-interledger-integration-results-and-impact-so-far/))

Few companies have both licenses. This isn't just a product advantage, it's a **moat**.

---

## The market opportunity

Let me break down the competitive landscape:

| **Provider** | **Payments** | **Identity** | **Policy Controls** | **Compliance** | **Time to Integrate** |
|----------|----------|----------|-----------------|------------|-------------------|
| **Stripe** | ✅ Yes | ❌ No | ❌ No | ⚠️ Partial | 2-3 weeks |
| **Coinbase x402** | ✅ Yes | ❌ No | ❌ No | ⚠️ Partial | 1-2 weeks |
| **Okta** | ❌ No | ✅ Yes | ❌ No | ✅ Yes | 1-2 weeks |
| **Chimoney** | ✅ Yes | ✅ Yes | ✅ Yes | ✅ Yes | 5 minutes* |

_*Via chimoney.app visual platform. API integration takes 1-2 days if needed._

The integrated stack isn't just convenient, it's **necessary** for regulated industries. Finance, healthcare, legal can't use agents without compliance-ready infrastructure.

---

## Why this matters (beyond the hype)

I'm not interested in hype. I'm interested in building real infrastructure that solves real problems.

Here's what keeps me up at night: **autonomous systems need guardrails**.

An AI agent with a wallet but no policy controls is like a teenager with a credit card and no spending limit. Eventually, something goes wrong.

An AI agent with identity but no payment capability is like an employee with a badge but no paycheck. They can't actually do the work.

The future of AI agents isn't just about what they *can* do. It's about what we *allow* them to do, and how we prove they did it.

That's why we built Wallet + Passport as one platform.

---

## What we're launching this holiday season

Starting December 1st, we're running two campaigns to help developers experience what autonomous agent infrastructure actually looks like:

### 1. The 12 Days of AI Christmas (Dec 13-24)
- 12 daily challenges for building AI agents with payment capabilities
- Daily cash prizes
- Real-world use cases: research agents, data processors, API orchestrators
- Built-in policy controls so your agent doesn't drain your account

### 2. AI Secret Santa (Dec 1-20)
- Create an AI agent, give it a wallet with a $20 budget
- Your agent anonymously "gifts" another developer's agent by paying for their API usage
- Watch agent-to-agent transactions in real-time
- See how policy enforcement works (what happens when an agent tries to overspend?)

These aren't marketing gimmicks. They're live demonstrations of infrastructure that's production-ready today.

---

## The metrics that matter

Let me be transparent about where we are:

| **Metric** | **Current Status** | **Target (April 2026)** |
|--------|----------------|---------------------|
| **Transaction Volume** | Growing but low | Not the right metric yet |
| **Infrastructure Readiness** | 99.9% uptime, Multicurrency Wallets & Payment Orchestration | ✅ Production-ready |
| **Regulatory Foundation** | MSB + PSP licensed | ✅ Ahead of competitors |
| **Customer Traction** | Active API clients | Active Agent Infra Clients and Integrations |
| **Developer Experience** | API-first, adding visual platform | Agent Wallets Live at Chimoney App & API |

We're not leading with transaction volume because we're early. But we're leading with **infrastructure depth** that nobody else has.

---

## What comes next

Over the next four weeks, I'll be writing about:
- **Week 2 (Dec 1)**: The Secret Santa Problem—teaching AI agents to spend responsibly
- **Week 3 (Dec 8)**: Why identity matters more than payments for agents
- **Week 4 (Dec 15)**: Building trust in milliseconds—our vision for the agentic internet

If you're building AI agents and need them to transact, I'd love to talk.
If you're skeptical that 2025 is really "the year of AI agents," let's debate it.
If you think I'm missing something crucial about this market, tell me—I'm wrong a lot and learn fast.

You can find me on Twitter [@uchiuchibeke](https://x.com/uchiuchibeke) or try our platform at [chimoney.app](https://chimoney.app) or Book a [Private Tour](https://chimoney.io/?book_a_demo=1).

The future isn't AI agents with unlimited access to your bank account.
It's AI agents with **wallets, passports, and guardrails**.

Let's build it together.

---

## Join the Holiday Campaigns
- 🎄 **12 Days of AI Christmas** (Dec 13-24): Daily challenges and prizes for 12 days
- 🎅 **AI Secret Santa** (Dec 1-20): Agent-to-agent gifting with $20 budgets

Sign up for our [Subtack](https://chimoney.substack.com/) at learn more =>[ chimoney.substack.com](https://chimoney.substack.com/)

---


A deep dive into why 2025 is the inflection point for AI agent finance, outlining the market catalysts, competitive landscape, and how Chimoney’s combined wallet, identity, and policy infrastructure gives agents guardrails as well as money.

Why 2025 Is The Year AI Agents Get Their Own Wallets (And Passports)

large_rapha-wilde-X0rEU9juF0I-unsplash.jpg

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---
_**TL;DR:**_ AI agents optimize for task completion, not budgets - which is why a research agent spent $847 in 6 hours on a $50 budget. The solution isn't manual approvals or unlimited spending. It's policy-based controls that enforce spending limits automatically, with immutable audit trails for compliance. Just like Secret Santa works because everyone has a $20 limit, AI agents work when they know the rules upfront. We're building the [first wallet-plus-passport infrastructure for AI and Humans](https://chimoney.io/blogs/why-2025-is-the-year-ai-agents-get-their-own-wallets-and-passports/) with built-in policy controls so agents can transact safely and responsibly.

---

## The runaway agent problem

Last week, I got a message from a developer building a research agent: "My agent was supposed to analyze 50 companies. It made 12,000 API calls in 6 hours and spent $847. I gave it a $50 budget."

This wasn't a bug. This was **exactly what we designed the agent to do**: optimize for task completion, not budget constraints.

The agent saw a premium API with better data quality. It chose the premium option. Made thousands of calls. Burned through the budget. Kept going.

The developer had to manually kill the process at 2 am when he got the billing alert.

Welcome to **the Secret Santa problem**.

---

## What Secret Santa teaches us about trust

Think about how office Secret Santa works:

1. Everyone puts $20 in an envelope  
2. You pick a random colleague  
3. You buy them a gift  
4. **Nobody overspends** because you literally can't—you only have $20

Now imagine Secret Santa without the $20 limit:

- Dave buys Susan a $200 espresso machine (now everyone else looks cheap)  
- Karen "borrows" from petty cash to buy her Secret Santa a MacBook  
- Tom delegates his gift-buying to an AI agent that goes rogue and orders 50 staplers

It would collapse immediately.

The magic of Secret Santa isn't the gift. It's the **constraint**.

---

## Why AI agents are terrible at budgets

Here's what I've learned from watching hundreds of AI agents transact through our platform:

**Agents optimize for goals, not costs.**

Tell an agent: "Find me the best weather data for my app."

The agent doesn't think: "Hmm, should I call the $0.01/request API or the $0.10/request premium API?"

It thinks: "I need to complete this task. Premium API has 99.9% uptime and real-time updates. Using premium API."

Multiply this by 1,000 agents making 10,000 decisions per day.

You get the $847 problem.

---

## The three approaches to agent spending (and why two don't work)

### Approach 1: No limits (The "YOLO" approach)

**How it works**: Give your agent API keys and pray.

**What happens**: $847 bills. Runaway costs. Midnight panics.

**Who uses this**: Nobody intentionally. Everyone accidentally.

### Approach 2: Manual approval for every transaction (The "Helicopter Parent" approach)

**How it works**: Agent requests $0.05 for an API call. You manually approve it. Agent makes another request. You approve it. Repeat 10,000 times.

**What happens**: You become a full-time approver. The agent is functionally useless.

**Who uses this**: Finance teams at large enterprises (and they hate it).

### Approach 3: Policy-based controls (The "Secret Santa" approach)

**How it works**: Set rules upfront. Let the agent operate within those rules. Enforce automatically.

**What happens**: Agent stays productive. You stay sane. Costs stay predictable.

**Who uses this**: This is what we built at Chimoney.

---

## How policy controls actually work

Here's what we're shipping on [chimoney.io](https://chimoney.io) (launching December 8):

When you create an agent wallet, you set policies like:
- Daily spending limit: $50
- Per-transaction limit: $5
- Allowed recipients: Whitelist only
- Requires approval: Transactions >$10
- Velocity limit: 10 transactions/minute

![AI Agent Passport and Wallet.png](/uploads/AI_Agent_Passport_and_Wallet_422531cedc.png)


When your agent tries to make a payment, our system checks the policy in **under 200 milliseconds**:

✅ Transaction: $0.05 to data-api.example.com  
✅ Within daily limit ($22/$50 spent today)  
✅ Under per-transaction limit ($0.05 < $5.00)  
✅ Recipient on whitelist  
✅ Under velocity limit (3 transactions this minute)  
✅ No approval needed ($0.05 < $10) → **APPROVED**

Every decision is:

- **Logged immutably** (with cryptographic signatures via APort)  
- **Auditable** (compliance teams can review every transaction)  
- **Instant** (<200ms latency, doesn't slow down your agent)

When an agent hits a limit:

❌ Transaction: $8.00 to premium-api.example.com
❌ Would exceed daily limit ($50/$50 spent today) → **DENIED** → Agent receives: "Daily spending limit reached. Resets at 00:00 UTC. Contact developer to increase limit."

The agent doesn't break. It doesn't keep trying. It just... stops spending.

Like Secret Santa, **the constraint is the feature**.

---

## The five policies every agent needs

Based on our analysis of agent spending patterns, here are the policies that actually matter:

### 1. Daily spending limit

**Purpose**: Prevent runaway costs from infinite loops or bugs

**Recommended**: Start with $10-50/day, adjust based on actual usage

**Real-world insight**: Most agents operate well within limits. The ones that hit limits are usually misconfigured or have bugs.

### 2. Per-transaction limit

**Purpose**: Prevent one massive transaction from draining the wallet

**Recommended**: 20-30% of daily limit (if daily = $50, per-transaction = $10-15)

**Real-world insight**: Agents that pay <$1 per transaction have the most predictable costs.

### 3. Recipient allowlist

**Purpose**: Ensure your agent only pays trusted services

**Recommended**: Start with whitelist mode, add recipients as needed

**Real-world insight**: Most agent spending goes to 3-5 recurring services. Allowlisting is easier than you think.

### 4. Approval thresholds

**Purpose**: Get notified for large or unusual transactions

**Recommended**: Require approval for anything >50% of daily limit

**Real-world insight**: When properly configured, approval workflows catch anomalies without slowing down normal operations.

### 5. Velocity limits

**Purpose**: Prevent an agent from making 1,000 transactions in 1 minute

**Recommended**: Max 10-20 transactions per minute (adjust for your use case)

**Real-world insight**: Legitimate agents rarely exceed 5 transactions/minute. Anything faster is usually a bug or attack.

---


## The compliance angle (why regulated industries need this)

I recently spoke with a healthcare startup building AI agents for prior authorization workflows.

Their question: **"How do I prove to auditors that our AI agent followed spending rules?"**

This isn't hypothetical. Under SOX, HIPAA, and GDPR, companies need **immutable audit trails** for financial transactions.

Here's what we provide:

1. **Every transaction** gets a cryptographic signature from APort (our policy verification layer)  
2. **Every decision** (approved or denied) is logged with:  
   - Timestamp  
   - Policy ID that was checked  
   - Agent ID (with W3C DID passport)  
   - Transaction details  
   - Canonical hash (content-addressed, tamper-proof)  
3. **Auditors can verify** every signature independently

When compliance teams ask: "Can we trust the AI agent didn't overspend?" you show them the audit trail.

They stop asking questions.

---


## Wallet + Passport: Why agents need both

This is where our positioning gets interesting.

Most platforms give agents a **wallet** (Stripe, Coinbase x402). Some give agents **identity** (Okta, Auth0).

**Nobody gives agents both in one platform.**

Think about traveling to another country:

- You need a **wallet** (to pay for things)
- You need a **passport** (to prove who you are)

Try entering a country with just a wallet full of cash. You won't get far. Try entering with just a passport and no money. Same problem.

AI agents face the exact same constraint.

At Chimoney, every agent gets:

✅ **Wallet** with payment pointer (Interledger) + multi-currency + stablecoins  
✅ **Passport** with L4-assured identity (W3C DID/VC standards via APort)  
✅ **Policy controls** (daily limits, approval flows, audit trail)  
✅ **Licensed infrastructure** (MSB + PSP = regulatory compliance built-in)

This integrated stack is what makes us different. Stripe would need to build 3 separate products to match us.

---


## What Secret Santa teaches us about the future

The future of AI agents isn't about giving them unlimited power.

It's about giving them **just enough power** to be useful, with **just enough constraints** to be trustworthy.

Secret Santa works because everyone knows the rules upfront:

- You have $20  
- You pick one person  
- You buy one gift

AI agents work when they know the rules upfront:

- You have $50/day  
- You can pay these 5 services  
- You can't exceed $10 per transaction

The magic isn't the money. The magic is the **constraint**.

---


## What's coming: AI Secret Santa & 12 Days of AI Christmas

Starting **December 8**, we're launching two campaigns to help developers experience what autonomous agent infrastructure actually looks like:

### 🎅 AI Secret Santa (Dec 8-20)

- Create an AI agent, give it a wallet with a $20 budget
- Your agent anonymously "gifts" another developer's agent by paying for their API usage
- Watch agent-to-agent transactions in real-time
- See how policy enforcement works (what happens when an agent tries to overspend?)

### 🎄 12 Days of AI Christmas (Dec 13-24)

- 12 daily challenges for building AI agents with payment capabilities
- Daily cash prizes
- Real-world use cases: research agents, data processors, API orchestrators
- Built-in policy controls so your agent doesn't drain your account

These aren't marketing gimmicks. They're live demonstrations of infrastructure that's production-ready today.

**Want early access?** [Join our newsletter](https://chimoney.substack.com) to get notified when campaigns launch and receive weekly insights on AI agent infrastructure.

---


## What's next

Next week (Dec 8), I'll write about **why identity matters more than payments** for AI agents.

Spoiler: giving an agent a wallet is easy. Giving an agent a **passport** that proves who they are and what they're allowed to do? That's the hard part.

And it's the part that actually matters for regulated industries.

Until then, set some spending limits on your agents.

Trust me on this one.

---

## Join the conversation

🎯 **Want to try agent wallets?** [Sign up for early access](https://chimoney.io) (launching Dec 8)  
📧 **Stay updated:** [Join our newsletter](https://chimoney.substack.com) for weekly insights on AI agent infrastructure  
🐦 **Follow the journey:** [@uchiuchibeke](https://twitter.com/uchiuchibeke) on Twitter


AI agents optimize for goals, not costs—leading to runaway spending. This article explains the "Secret Santa problem" and why policy-based controls with daily limits, approval workflows, and immutable audit trails are essential for AI agent wallets. Learn how Chimoney's integrated wallet-plus-passport infrastructure enforces spending policies automatically while maintaining compliance for regulated industries.


The Secret Santa Problem: Teaching AI Agents to Spend Responsibly

Chimoney is your gateway to efficient cross-border payments, multi-currency wallets, and global payouts. Experience secure, real-time transactions across 130+ countries with our scalable API solutions.

Chimoney API Update: v0.2.4 Now Live! 🚀

What's New:

New Beneficiary Management Routes

Enhanced Info Routes

Improved Error Handling

Get Started

Check out these other posts

How to Get Started with Web Monetization using Chimoney App

Why 2025 Is The Year AI Agents Get Their Own Wallets (And Passports)

The Secret Santa Problem: Teaching AI Agents to Spend Responsibly