Crypto Utility is Driving Financial Inclusion in Emerging Markets


Emerging markets use crypto stablecoins for inclusion and transfers. Global rules aid growth, but VC focus is key to reaching the unbanked population.

Although institutional adoption remains on the rise, in major economies such as the United States, cryptocurrencies continue to be viewed as a highly speculative asset class. However, in the world’s emerging markets, adoption of cryptocurrency has been driven more strongly by necessity rather than speculative frenzy.

Blockchain technology has been a game-changer for the world’s underbanked, who prior to the emergence of the Web3 economy, were underserved by the traditional financial system. With this, it’s no surprise that the countries most rapidly adopting cryptocurrencies for everyday use are primarily those in the developing world.

Crypto industry leaders like Binance have been investing heavily in solving the globally unbanked problem for several years. After re-entering the Indian cryptocurrency market last year, Binance is in the process of entering other emerging markets where cryptocurrency use is on the rise and there’s a significant need for financial services. In a recent fireside chat at the Token2049 conference, Binance CEO Richard Teng explained his vision for global financial meritocracy, “At Binance, we’re breaking barriers to empower the 1.7 billion unbanked worldwide through intuitive tools, regulatory collaboration, and open access. Financial freedom shouldn’t be a privilege.”

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