May 24, 2024

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Global Financial Inclusion for Africans a Step Closer with Snake Nation Funding

Snake Nation COO Dre Ngare.

Pan-African technopreneurs Snake Nation have been granted funding by the Interledger Foundation for ground-breaking work the disruptive tech company is doing to ensure that African Creatives have greater financial inclusion in the global creative economy via an open protocol that will fast-track the continent’s participation in the Fourth Industrial Revolution.

Put simply, Snake Nation’s funding will allow it to develop a network for greater access and financial inclusion by Africans via Interledger Foundation’s Tier-1 ILPv4 Protocol, ensuring that payments between countries can be made and received easily.

Snake Nation’s funding allows it to develop a Tier-1 ILPv4 Network through its University Society Network as a foundational solution to an open payment system, a key pillar of Africa 4.0 (4th Industrial revolution). 

“The Africa.4.0 rollout will begin in 10 countries, driving adoption of the Snake Nation ILP-enabled wallet. Our Tier-1 ILPv4 infrastructure is a step forward for financial inclusion, and for the creative economy in the Global South,” says Dre Ngare, Chief Operations Officer for Snake Nation.

The Interledger Foundation champions advocacy for Interledger, an open protocol that permits frictionless payments and micropayments across currencies and ledgers, enabling opportunities for broader global financial inclusion. The Foundation’s mission is to build equitable pathways to financial access and digital participation. 

One of the significant current gaps in the ILP network is access to local African Nodes with the ability to use a Tier-1 ILP capable wallet on the African continent and other Global South countries like South East – Asia, and South America. 

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