Access to financial services is a crucial catalyst for promoting economic growth, reducing poverty, and fostering social development. However, despite the transformative potential of DeFi, many global populations still lack access to traditional banking services and financial resources.
This unbanked population faces numerous challenges in managing their finances, saving money, accessing credit, and participating in formal economic systems. They are often individuals from marginalized communities, low-income households, rural areas, or regions with limited financial infrastructure. Geographic barriers, high costs, lack of documentation, and financial illiteracy exclude the unbanked.