Thought it was a speculative market, but it's a lifeline...Binance reveals shifts in financial hegemony in emerging markets

▲ Africa, Stablecoin, Digital Assets, Blockchain/AI Generated Image

Binance has released a report stating that cryptocurrency and digital asset infrastructure are expanding financial access in emerging markets. The report analyzes that the use of cryptocurrencies, which has been perceived primarily as speculative, is expanding into cross-border payments, financial inclusion, tokenization, and mobile-based services, establishing itself as an alternative financial channel for populations underserved by traditional banking.

CryptoPotato reported on May 10 (local time) that Binance, through its 'Finance Without Frontiers' report, stated that cryptocurrencies are improving financial access for users in underserved financial areas and emerging markets. The report explained that people without bank accounts or with limited access to financial services are using cryptocurrencies for cross-border payments and financial inclusion.

Binance assessed that the adoption of cryptocurrency has expanded beyond mere speculation to actual utility. Beyond using digital asset trading platforms, users can now access the global financial system through tokenization, artificial intelligence (AI) agents, and mobile-based services. Especially in regions with insufficient financial services, on-chain networks are serving as new entry points for those previously outside the traditional financial sector.

According to the report, approximately 1.3 billion adults worldwide, about 21% of the global adult population, still do not have bank accounts. Of these, about 73% reside in low- and middle-income countries, and more than half are concentrated in eight countries. Binance researchers classified adults with deposit accounts but limited access to credit, digital payments, interest-earning savings, and cross-border financial services as financially underserved.

The financial access gap was more pronounced in the areas of credit and payments. Approximately 4.7 billion adults lack access to credit or loans, and 3.6 billion in low- and middle-income countries do not use digital payments or cards. Among adults in these countries, only about 40% formally save, and at least 77% do not receive interest on their deposits.

Binance identified key areas where cryptocurrency is driving financial inclusion: payments and remittances, access to capital markets, democratization of unlisted markets through tokenization, and programmable finance for non-human participants like AI agents. The difference in accessible services based on the penetration of basic mobile phones versus smartphones was also mentioned as an important factor in discussions about financial infrastructure in emerging markets.

The proportion of users from emerging markets has also rapidly expanded. According to the report, the share of cryptocurrency users from emerging markets within Binance increased from 49% in 2020 to 77% in 2026. Internal surveys showed that 14% of all active users utilize multiple products such as savings, payments, and investments, with most of them concentrated in emerging markets. CryptoPotato reported that this trend demonstrates the emergence of on-chain networks as a core component in global financial inclusion discussions.

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