What are “Wrapped” Crypto Tokens & Why are They so Important?
In step with the meteoric rise of DeFi platforms, today’s “wrapped” tokens, especially wrapped BTC (“WBTC”), is an intriguing phenomenon. A “wrapped token” is an asset on the Ethereum blockchain matched 1:1 with an underlying asset, which need not share the same blockchain, or as a physical asset like gold, be on a blockchain at all.
How DeFi Will Help the Unbanked Worldwide
Of a global population of over 7.8 billion, it was estimated that 1.7 billion people have limited or no access to financial services, and therefore limited or no access to many corresponding opportunities. Simply receiving and sending money to friends or family becomes an impossibility for the “unbanked.”