SAN FRANCISCO — Alabama A&M University has been awarded a grant from the Interledger Foundation, a U.S. nonprofit that aims to foster open and interoperable digital financial systems.
With two other universities, Alabama A&M is in the inaugural cohort of awardees for the Interledger Nextgen Higher Education Grant Program, a news release said.
The program marks an “important milestone in the Foundation’s commitment to expanding access, equity, and innovation in digital financial inclusion through higher education partnerships,” the release said.
Interledger said it received entries from universities all over the world. Alabama A&M, The Hague University of Applied Sciences and United States International University of Africa (Kenya) represent a diverse set of higher education institutions committed to reimaging financial systems through education and innovation, the release said.
Alabama A&M was recognized for its Dollarcraft digital banking launch program.
“This project will lead the way through innovation and creativity to prepare learners by entwining education with experiential learning opportunities in the classroom and beyond,” said Sonya Merritt, director of Experiential Learning at Alabama A&M University. “We fully anticipate a successful model to be established and propelled by this project. We are excited about this project with the Interledger Foundation and look forward to future collaborations.”
Dollarcraft is a 13-week interdisciplinary challenge where students explore digital banking, entrepreneurship, and ILP-powered financial tools through applied research and a culminating Hackathon.
According to the Interledger Foundation, over two semesters, participants will design, prototype, and showcase inclusive payment solutions, producing 6–8 minimum viable products that connect underserved communities to the digital economy.
All of the universities will receive grant funding of up to $50,000 for a 12-month timeline to cover work on the project and any costs associated with event participation, training, or software development, the foundation’s news release said.
The program will combine design thinking workshops, startup incubation, and leadership training to inspire transformative ideas for financial inclusion.
“We aim to nurture the next generation of fintech entrepreneurs, developers, and policymakers,” said Chris Lawrence, chief programs officer at the Interledger Foundation. “These collaborative efforts have demonstrated that universities are critical engines in shaping inclusive financial systems that unlock economic opportunity.
“By investing in young talent, we are helping to further the advancement of open, interoperable financial systems that can transform local lives while also contributing to the global conversation on financial inclusion.”
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