Yemenis are turning to decentralized finance platforms for banking amid ongoing US sanctions against the Houthi group. The shift towards DeFi reflects a pressing need for financial autonomy as access to traditional banking becomes increasingly difficult due to regional conflicts.
The US sanctions have led to notable increases in cryptocurrency activity, with a recent report indicating a 270% rise in trading volume after the Houthis were designated as terrorists. This trend suggests that as sanctions grow stricter, reliance on crypto solutions is likely to increase.
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