Why bring Is Trending Today?

According to the World Bank, nearly 1.7 billion adults worldwide remain unbanked, lacking access to basic financial services. This figure represents a significant challenge in achieving global financial inclusion. The report highlights that women are disproportionately affected, with 1 billion unbanked women compared to 700 million unbanked men. The COVID-19 pandemic has exacerbated this issue, with the unbanked population facing difficulties in receiving government aid and making digital payments.

Former employees of SpaceX and X have raised $9 million for Standard Economics, a platform aimed at serving the unbanked population. Additionally, venture capital firm Andreessen Horowitz (a16z) has led a $12.9 million round for ZAR, a company focused on bringing stablecoins to Pakistan's unbanked population.

Africa's financial landscape has seen a decrease in market depth and liquidity, as indicated by the latest Absa Africa Index. Meanwhile, in the cryptocurrency sphere, Ripple has been making strides in Africa, partnering with Absa Bank to launch secure, bank-grade crypto custody services. This strategic partnership aims to expand Ripple's global crypto custody network to the African continent. Additionally, the XRP price has been bullish, with analysts eyeing a $3 recovery as the SEC ETF ruling approaches, further boosted by Ripple's recent deal with Absa Bank. In other news, Montreal Mayor Valérie Plante will participate in the opening of the annual conference of the North American Bitcoin Conference (NABC) in Montreal.