large_Chimoney and Techstars.png

medium_Chimoney and Techstars.png

small_Chimoney and Techstars.png

thumbnail_Chimoney and Techstars.png

Chimoney and Techstars.png

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

large_Corpay blogpost.png

medium_Corpay blogpost.png

small_Corpay blogpost.png

thumbnail_Corpay blogpost.png

Corpay blogpost.png

## 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

medium_Blog cover.png

small_Blog cover.png

thumbnail_Blog cover.png

Blog cover.png

Today marks an exciting milestone for Canadians as we proudly introduce the **Chimoney App**—a cash app designed to empower Canadians with seamless global payments, making financial transactions easier and more accessible than ever. Built with Interledger Protocol (ILP) support and powered by Chimoney's API, the app is transforming how Canadians send, receive, and manage their money—efficiently, securely, and without borders.
&nbsp;
## Global Payments Made Easy
With the Chimoney App, users can send funds to over 100 countries using just an email address or phone number. This innovative approach eliminates the need for traditional bank details, making international payments as simple as sending a text message. Whether you're paying a friend abroad or sending funds to a loved one in Africa, Chimoney ensures your money reaches its destination quickly and securely.
&nbsp;
## Multi-Currency Wallets
Managing multiple currencies has never been easier. The Chimoney App allows users to hold and manage balances in **CAD**, **USD**, and **NGN**, all while enjoying competitive foreign exchange rates. This feature is particularly beneficial for frequent travelers, expatriates, and anyone dealing with international transactions, as it simplifies currency conversion and minimizes costs.

![Multi-currency wallet.png](/uploads/Multi_currency_wallet_bd44c42419.png)
## Flexible Payment Options
Chimoney App offers a variety of flexible payment options to suit different needs. Recipients can choose how they want to receive their funds, including:

- Bank transfers
- Mobile money
- Airtime
- Gift cards
- Other local options such as CAD withdrawals via Interac Email, NGN withdrawals to Nigerian bank accounts, and USD withdrawals to U.S. bank accounts.
&nbsp;
## Universal Payment Links
The **Get Paid** feature is especially beneficial for both individuals and businesses, offering a seamless way to receive payments from clients worldwide. By simply sharing a universal payment address or having clients scan a unique payment code, users can receive funds from anywhere directly into their Chimoney App wallets—eliminating the usual hassle and delays.
&nbsp;

![Transfer.png](/uploads/Transfer_bfa86a53d1.png)


## Who Benefits from the Chimoney App?

### Everyday Canadians and Small Businesses
Built for hard-working Canadians and local businesses, Chimoney provides **CAD bank accounts**, **currency exchange**, and simple, affordable payment solutions to meet rising costs. From splitting bills to managing cross-border payments, Chimoney offers the financial tools Canadians deserve to support a stable economy.

### Freelancers and Remote Workers
Freelancers and remote workers in Canada can now enjoy hassle-free payments from international clients. Chimoney’s **Universal Payment Links (UPL)** and **multi-currency wallets** allow them to receive payments on time, reinforcing Canada’s role as a global talent hub.

### International Students
Chimoney simplifies financial management for international students, letting them handle all their financial needs without needing extra bank accounts. This streamlined approach keeps finances organized, allowing students to focus on their studies.

### Community Groups and Local Associations
For local Canadian associations and community groups, Chimoney provides a streamlined way to manage finances and offers exclusive partnership benefits. These features support local groups by helping them efficiently manage funds while offering valuable perks to members.
&nbsp;

---
  &nbsp;
## Interledger Protocol: Secure and Open Global Financial Inclusion

Chimoney is one of the first companies live on Interledger, enabling seamless, secure cross-border payments for Canadians. By integrating the Interledger Protocol (ILP), the Chimoney App ensures that transactions are both reliable and borderless, making global payments easier than ever. Canadians can confidently send and receive funds across borders, knowing their transactions are secure and efficient.

At the recent Interledger Summit, we demonstrated the app’s seamless peer-to-peer transfer capabilities, showcasing how easily users can make cross-border payments. Through this, Chimoney empowers true financial connectivity, supporting a vision of global financial freedom.

![img_7801.jpg](/uploads/img_7801_183e4e89d3.jpg)

&nbsp;
&nbsp;

## Try Out the Chimoney App Today!
&nbsp;
![PR splash.png](/uploads/PR_splash_df67c19484.png)
Ready to experience financial freedom? Download the Chimoney App on [**App Store**](https://apps.apple.com/us/app/scrim-by-chimoney/id6444027378) or [**Google Play Store**](https://play.google.com/store/apps/details?id=com.usescrim.app) and unlock the full potential of seamless global payments.

The journey to financial empowerment starts with the Chimoney App—download it today!


The Chimoney App empowers Canadians with seamless global payments, multi-currency wallets, and flexible transaction options. From freelancers to international students, see how Chimoney supports financial freedom and simplifies cross-border payments for everyone in Canada.

Chimoney App: Transforming How Canadians Achieve Financial Freedom

large_5 Smart Ways to Use Your Free C$5 Credit on the Chimoney App.png

medium_5 Smart Ways to Use Your Free C$5 Credit on the Chimoney App.png

small_5 Smart Ways to Use Your Free C$5 Credit on the Chimoney App.png

thumbnail_5 Smart Ways to Use Your Free C$5 Credit on the Chimoney App.png

5 Smart Ways to Use Your Free C$5 Credit on the Chimoney App.png

You’ve just gotten your C$5 credit and you are wondering what do with it? No worries, we’ve compiled 5 nice and creative ideas for you!

## 1. Send a Reward to Someone Special 
Brighten someone’s day by sending them a small thoughtful reward. You can send it to a friend, family or relative via their email or phone number. Another alternative is to have them download the [**Chimoney App**](http://bit.ly/48DjH8K) and send it to them via their username or interledger wallet address. 
&nbsp;
![Firefly Iphone X phone screen in focus on table relaxation mood... Natural lighting with muted tones.jpg](/uploads/Firefly_Iphone_X_phone_screen_in_focus_on_table_relaxation_mood_Natural_lighting_with_muted_tones_ae69e89a02.jpg)
&nbsp;
**How to do it:**
- Select ‘Transfer’ on the app's Home Page.
- Enter the amount and currency you want to send.
- Choose the sending option (e.g, email, phone number, username, or wallet address).
- Review and confirm the transfer.

It's that simple! With just a few taps, you can share a meaningful reward with someone special.


&nbsp;
## 2. Buy Yourself a cup of coffee
Withdraw your C$5 to your bank account using your Interac email and treat yourself to a cup of coffee or a quick snack.
&nbsp;
![Firefly morning cup of coffee with phone beside it; tea time and relaxation mood... Background colou.jpg](/uploads/Firefly_morning_cup_of_coffee_with_phone_beside_it_tea_time_and_relaxation_mood_Background_colou_0e4cbb9d3b.jpg)
&nbsp;
**How to do it:**
- Tap ‘Withdraw’ on the Home Page.
- Enter the amount and currency to withdraw.
- Add your Interac email as the recipient.
- Review and confirm the transaction.

Redeem the amount via Interac to your bank account and spend it on your favorite coffee!
&nbsp;



## 3. Enjoy Subscription Services/Gift-card
Use your C$5 credit toward a subscription or a gift card of your choice! Redeem it for popular services like iTunes to enjoy your favorite music, movies, or apps, or opt for a C$5 Amazon gift card to shop for a little gift online. It's a simple way to treat yourself or someone else!
&nbsp;
![Firefly Amazon giftcard in focus on table beside phone relaxation mood... Natural lighting with mute.jpg](/uploads/Firefly_Amazon_giftcard_in_focus_on_table_beside_phone_relaxation_mood_Natural_lighting_with_mute_09c28c9160.jpg)
&nbsp;
**How to do it:**
- Tap ‘Withdraw’ on the Home Page.
- Enter the amount and currency to withdraw.
- Add your Interac email as the recipient.
- Review and confirm the transaction.

Redeem your funds and use them to purchase your desired subscription or gift card!
&nbsp;



## 4. Donate to a Non-Profit Organization
Consider donating your C$5 credit to a charity or non-profit organization. Chimoney supports the [**TryOpenGiving**](https://tryopengiving.com/) Platform and you can donate directly to the organizations listed on the platform via the Chimoney App.
&nbsp;
![Firefly laptop screen in focus on table relaxation mood... Natural lighting with muted tones and a b.png](/uploads/Firefly_laptop_screen_in_focus_on_table_relaxation_mood_Natural_lighting_with_muted_tones_and_a_b_5ebc7636c2.png)
&nbsp;
**How to do it:**
- Visit [**TryOpenGiving**](https://tryopengiving.com/) and select the organization you want to support.
- Click ‘Donate’ and choose the ‘Donate via Chimoney’ option.
- Enter the amount and your email address.
- Select Chimoney as your payment method, scan the QR code, and authorize the payment via Chimoney App

And just like that you can make a difference with your C$5 credit!

&nbsp;
## 5. Save for Later
If you're unsure how to spend your C$5 credit immediately, consider saving it for future use. Keep an eye on upcoming promotions or new features within the app that might be worth spending your credit on later.
___

Now that you have these five smart ways to use your free C$5 credit on the Chimoney App, the possibilities are endless. The flexibility of the Chimoney App makes it easy to take full advantage of your credit, so go ahead and make your next move!

If you haven’t downloaded the Chimoney App yet, now is the perfect time. [**Click here**](http://bit.ly/48DjH8K) to get the app and start sending money to others in Canada effortlessly using either their email, phone number, username, or wallet address.

Here are five ways to use your free C$5 credit on the Chimoney App, along with step-by-step instructions for each option.








5 Smart Ways to Use Your Free C$5 Credit on the Chimoney App

large_Interledger blog 1.png

medium_Interledger blog 1.png

small_Interledger blog 1.png

thumbnail_Interledger blog 1.png

Interledger blog 1.png

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

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.

Check out these other posts

Chimoney App: Transforming How Canadians Achieve Financial Freedom

5 Smart Ways to Use Your Free C$5 Credit on the Chimoney App

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