Informal Systems is a core developer within the Cosmos interchain ecosystem, specializing in the development of essential components like the Tendermint consensus engine and the IBC interoperability standard. Their focus is on providing infrastructure, tools, and security auditing services to support the interchain ecosystem, improving software engineering practices through formal methods technology. Additionally, they have initiatives such as Collaborative Finance, aiming to integrate Cosmos technology with fintech products to offer liquidity systems for businesses.