2018-6-28 15:54 |
A new blockchain-based ecosystem is vowing to help 490 million unbanked and underbanked people across Southeast Asia access modern financial services.
According to TraXion, only 54 percent of adults in developing countries have access to a bank account.
This is even more keenly felt in the Philippines, where 80 percent of families are unbanked or underbanked.
The platform is hoping to create “fair and easy access” to a suite of services including low-cost remittances, savings accounts, cashless payments, peer-to-peer lending and insurance.
It has already created a development hub that’s designed to create blockchain solutions for financial institutions — helping to generate revenue.