Crypto Utility is Driving Financial Inclusion in Emerging Markets

In emerging markets, cryptocurrencies have emerged as a solution to a longstanding problem: limited access to banking. Around 1.7 billion of the world’s population remains unbanked, or without access to essential banking services. Indonesia, Nigeria, the Philippines and Vietnam, four of the top ten countries on the Global Crypto Adoption Index, are also some of the most underbanked countries in the world.Crypto giants like Binance have long invested in tackling global unbanking and re-entered the Indian crypto market last year to boost inclusion. If other such institutions and investors follow suit, it could create an outcome that both produces positive financial returns, while at the same time fostering a continued increase in financial inclusion. But while some forward-thinking institutions have started to take notice, it may still be far from a widespread demand for crypto-related services as a result of lack of “regulatory clarity’’.Win-Win for the Crypto Industry and the World is likely to continue to accelerate.

Source: Hindustantimes.com  |  Read full article