Richard Teng, CEO of Binance, shared new information that as of last year, an estimated 500,000 women sent $4 billion in remittances using Binance. Not only does the statistic reflect Binance’s size, but it also confirms how blockchain makes the world’s financial systems more open to everybody.
It appears from the figure that more women are starting to use digital assets than in the past, as they may have found it harder than men to use traditional financial services. For a number of reasons, such as where they live, the lack of formal banks or societal restrictions, many women are not involved in mainstream finance. Now, Binance Pay and cross-border wallet services are helping to change that situation.
Many families have traditionally depended on sending money, but remittances commonly had expensive fees, delays, and access points were limited. Because of Binance, transfers happen quickly, users pay less, and their data is protected. The amount of money moved by women, a total of $4 billion, shows that people are becoming more confident in cryptocurrencies and the use of blockchain to solve everyday problems.
Crypto as a Tool for Social and Economic Empowerment
Richard Teng stated on Twitter that crypto is also important for opening up money services to people who cannot access them. It reflects the major changes that are happening in the Web3 environment. Anyone can use crypto now, as it provides a way for those who haven’t had many financial resources, especially women in developing countries, to get access to more opportunities.
Women are becoming more digitally literate because of community educational efforts and various blockchain projects that help female business owners and those sending money overseas. Women are increasingly in charge of their finances, are exploring decentralized finance (DeFi), and are even taking part in running blockchain networks in Africa, South Asia, and Latin America.
Removing gatekeepers and allowing users to trade with one another, Binance helps users take charge of their money, interact as they wish, and protect their resources. This is vital for those who use money transfer services, as it lessens the need for banks or remittance agents, which usually take a big cut in the process.
Looking Ahead: Inclusive Crypto Adoption as a Global Priority
500,000 women using Binance for $4 billion in remittances over the year reflects not only numbers but also the rise of finance through accessible and trusted decentralized platforms. Since more women are turning to crypto to help with their families, pay school fees, and start enterprises, the industry ought to make sure that solutions are secure, simple, and open to all.
Binance will most likely keep pushing in this area by partnering with educational bodies, making the platform user-friendly, and advocating for welcoming crypto regulations worldwide. Due to this, we now need to push for responsible growth with blockchain to ensure those who need help are protected and its life-changing properties are not wasted.
All in all, Richard Teng’s tweet points to how crypto is continually developing. This change involves technology, community, and finances, and women are a key part of its growth. More inclusiveness in the economy is a requirement, and it is already happening, with crypto coming to the forefront.
The post Binance Supports Over 500,000 Women Sending Four Billion Dollars in Remittances as Crypto Advances Financial Inclusion appeared first on Coinfomania.
