Cryptocurrencies: developing countries provide fertile ground

In Lagos, Nigeria’s commercial capital, a software coder bills her client in London and is paid in bitcoin, sidestepping a costly banking system and the naira currency’s miserly official exchange rate.

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In the developing world, there are signs that crypto is quietly building deeper roots. Especially in countries which have a history of financial instability or where the barriers to accessing traditional financial products such as bank accounts are high, cryptocurrency use is fast becoming a fact of daily life.
In the developing world, there are signs that crypto is quietly building deeper roots. Especially in countries which have a history of financial instability or where the barriers to accessing traditional financial products such as bank accounts are high, cryptocurrency use is fast becoming a fact of daily life. (Foto: Angel Garcia/Bloomberg)