Is Crypto the Path to Financial Inclusion in Latin America?
An overview of how cryptocurrencies are gaining popularity among migrants and others, despite concerns over their stability.
Latin America is not a monolith, although there are common threads among countries – including low access to financial services. Almost half of the people in the region lack a bank account, according to the World Bank – but most of the unbanked have access to a mobile phone. That explains why, despite concerns over their volatility and lack of government backing, many believe that blockchain-based currencies present a long-awaited path to finally bring the general public into banking. “Fintechs were the promise to democratize access to the financial system in...
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