Crypto offers financial stability for Afghans

  • As Afghanistan’s financial system faces crisis, cryptocurrencies could help bring stability to the middle-eastern country.
    • After the Taliban’s recent takeover of Kabul, citizens have been buying up cryptocurrencies as a way of avoiding bank runs and as a means to provide for their families.
    • Those who are leaving the country are using their wallets to take their money with them, while others are using crypto as a form of financial security should they wish to remain in Afghanistan.
    • In a recent Chainalysis report, statistics show that crypto adoption in Afghanistan is on the rise. The country sits 20th out of 150 countries in terms of overall crypto adoption, and is seventh when looking at peer-to-peer exchange trade volume.
    • Last year, Afghanistan’s crypto use was so minimal it was excluded from the 2020 ranking.
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