How can stablecoins transform SMEs in developing economies?
In a rapidly globalizing world, SMEs in emerging economies face unique challenges in accessing the global financial system, but the rise of stablecoins offers a promising solution. Small businesses in developing countries face many financial challenges that stablecoins can address. DLTPAY, a Web3 payment and DeFi platform, offers a unified solution to access stablecoin operations and other Web3 services. Small and medium enterprises (SMEs) serve as the backbone of global economic development, comprising 90% of all businesses and accounting for 50% of worldwide employment, according to the World Bank. Their contributions span the gross domestic product (GDP) of developing and developed countries, but emerging economies depend even more on them. Overcoming financial barriers for emerging economies In Sub-Saharan Africa, a region home to 44 million SMEs, these enterprises sustain 80% of the populace, fueling economic growth and development. In Kenya, the small business sector makes up...