Mojaloop Background

Mojaloop Background

Mojaloop grew out of principles set forth by the Financial Services for the Poor team at the Bill & Melinda Gates Foundation. These principles form the cornerstone of the Level One Project, which is the foundation's initiative for designing and implementing digital financial services and systems to include and benefit the world's 2 billion unbanked. The code won't address the gap in digital financial services on its own, but it can help service providers open markets and accelerate progress.

Digital and mobile technologies make it possible to reach new customers in developing markets with innovative, low-cost financial services. The lack of a shared platform, though, means that financial providers have to build everything on their own. This raises costs and keeps the digital financial industry from growing and innovating as fast as it could.

With support and funding from the Bill & Melinda Gates Foundation, Mojaloop was designed by a team of leading tech and fintech companies: Ripple, Dwolla, ModusBox, Software Group, Coil, and Crosslake Technologies. It is available now as an open-source project. Free to be used and adapted by anyone under the Apache 2.0 license. For more information on how Mojaloop ties into the larger initiative of financial inclusion, visit

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