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Key Takeaways
- The Gates Foundation released Mojaloop in 2017 as open-source software for interoperable digital payments.
- Mojaloop uses the Interledger Protocol, which can connect payment networks but is not a blockchain.
- Coil ended its membership service and product-development efforts in 2023, while Mojaloop remains under active open-source development.
Updated: Aug. 26, 2026
The original October 2018 article linked the Gates Foundation, Coil and Ripple through the Interledger Protocol (ILP) and Mojaloop. Eight years later, Mojaloop remains under active open-source development, while Coil shut down its membership service and product work in 2023.
The Bill & Melinda Gates Foundation, now known as the Gates Foundation, released Mojaloop to improve interoperability among digital payment providers. It was not designed as a consumer cryptocurrency product.
The Gates Foundation Released Mojaloop in 2017
The Gates Foundation had already released Mojaloop as open-source software in October 2017, one year before the original report. It was intended to support payment platforms serving people without access to conventional banking services.
The foundation said Mojaloop could connect mobile-money wallets, bank accounts, merchants, and government institutions through a national payment-switching model. Ripple, Dwolla, ModusBox, Crosslake Technologies and Software Group were among the technology partners named in the original announcement.
Mojaloop was released as a reference model for financial institutions, governments, and service providers to adapt, rather than as a payment network operated by the foundation.
Mojaloop Uses Interledger, Not a Blockchain
The original coverage described the work as a blockchain initiative. Mojaloop’s own documentation makes a narrower distinction: the software does not use blockchain. It uses Interledger to coordinate payments between different payment providers.
Interledger is a protocol for routing payments across ledgers and networks. Its technical documentation says those ledgers can include banks, mobile-money institutions, automated clearing houses, central-bank payment systems and blockchains. The protocol is not tied to one company, currency, or network.
Mojaloop was designed for regulated payments in which participants and customers can be identified under local identity and compliance requirements. Using Interledger did not require a public blockchain, token, or cryptocurrency settlement.
Coil Built a Subscription-Based Web Monetization Service
Coil, founded in 2018 by Interledger co-creator and former Ripple chief technology officer Stefan Thomas, used the protocol for a different purpose. Its subscription service streamed micropayments to participating publishers and creators as members read, watched or listened to content online.
The model was an attempt to give creators an alternative to advertising and individual site subscriptions. Coil launched a $5-a-month membership in 2019, with payments delivered through Interledger.
Coil announced on Feb. 2, 2023, that it would stop accepting new membership sign-ups and discontinue its service on March 15. The company said it was sunsetting its products and development efforts as stewardship of Interledger moved to the Interledger Foundation.
Mojaloop Remains Under Active Development
The Mojaloop Foundation formed as an independent charitable nonprofit in 2020 to maintain the software and support its adoption. The Gates Foundation and Coil were among its initial sponsor members, alongside Google, ModusBox, Omidyar Network and the Rockefeller Foundation.
Mojaloop remains under active development, with version 17.2.0 released in June 2026. The Mojaloop Foundation described the update as a non-breaking release focused on quality, security, and reliability improvements. Its GitHub organization also recorded software and documentation updates in July.
Those releases establish that Mojaloop remains maintained as open-source software. They do not, by themselves, show how many people use a Mojaloop-based payment system or measure its effect on financial inclusion in any country.
Mojaloop’s Future Depends on Adoption, Not Code Releases
Coil’s shutdown did not end Mojaloop or Interledger. Mojaloop remains focused on interoperable infrastructure for banks, mobile-money providers, merchants and public institutions, while the Interledger Foundation continues to steward the protocol and support open-payment development.
Continued development does not establish real-world adoption. Mojaloop’s future impact will depend on whether payment operators and local institutions deploy the software at scale.
