In advanced economies, cryptocurrencies are viewed by many in the financial world with suspicion — the domain of zealous “crypto bros” and a speculative and highly volatile fad that can only end badly. But 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.
“When you touch boots to the ground in Africa, specifically Nigeria, and talk to people about their everyday challenges with money, you see that it is almost unfathomable to us in the west to imagine,” says Ray Youssef, chief executive of Paxful, a peer-to-peer crypto exchange that allows users to trade directly with one another.
https://www.ft.com/content/1ea829ed-5dde-4f6e-be11-99392bdc0788