Has crypto truly enhanced financial inclusion for the unbanked?

Crypto offers vital financial services access: Cryptocurrencies provide essential financial services to the unbanked population, empowering 1.4 billion PEOPLE without bank accounts. In countries like Nigeria, crypto offers a lower-cost alternative for money transfers, enabling easier access to capital for everyday expenses.

Africa sees a surge in crypto adoption: In 2024, Nigeria accounted for about 43% of crypto transactions in Sub-Saharan Africa. As traditional banks remain scarce, citizens rely on stablecoins for safe value storage, marking a significant shift towards using cryptocurrencies for daily transactions.

Challenges persist despite benefits of crypto: HIGH transaction fees, particularly for popular cryptocurrencies like Ethereum, can discourage adoption. During peak times, transferring ETH can cost between 1 USD to over 50 USD, presenting barriers to usage among low-income individuals in emerging markets.