Unbanked
Quick Answer
Unbanked refers to 1.4 billion adults without access to traditional banking. Crypto payments provide financial inclusion — a smartphone and internet connection is all that's needed.
Full Definition
Unbanked refers to individuals without access to traditional banking services. Approximately 1.4 billion adults globally are unbanked. Crypto payments provide financial inclusion because blockchain wallets require only a smartphone and internet connection — no bank account, credit history, or government ID needed for basic transactions. This makes crypto payments a powerful tool for emerging markets.
Related Terms
USDC
USDC is a fiat-backed stablecoin issued by Circle, pegged 1:1 to USD and backed by cash and US Treasury securities. Widely used for crypto payment settlement.
USDT (Tether)
USDT is the largest stablecoin by market cap, pegged to USD and available on virtually every blockchain. The most traded cryptocurrency by volume globally.