CySEC-regulated firms serve 3.6 million of the 10.5 million retail clients trading across EU borders, dominating a market that grew 32% in 2024.
ESMA data show, however, that complaints jumped to nearly 11,000, with four countries accounting for 86% of cross-border activity.
The number
of retail clients using cross-border investment services in Europe climbed to
about 10.5 million in 2024, even as complaints from those clients jumped by
46%, according to new data from the European Securities and Markets Authority
(ESMA).
EU’s Cross-Border Market
Adds Millions Of Clients
ESMA’s
latest annual review of passported activity shows firms operating under the
“freedom to provide services” regime served roughly 10.5 million retail clients
in 2024, up from 8 million a year earlier, a 32% increase in
cross‑border clients. The analysis covers investment firms and credit
institutions providing services into other EU/EEA countries without using
branches, and only includes firms that have more than 50 retail clients in a
given host market.
In total,
370 firms across 30 EU/EEA jurisdictions met that threshold in 2024, down from
386 in 2023, marking a 4% drop in the number of active providers. On average,
each firm served about 28,000 cross‑border retail clients, up from 20,000 the
previous year, underlining how activity is consolidating into fewer, larger
players.
It is worth noting that the 10.5 million counts only clients receiving investment services from firms in other member states, not clients trading with firms in their home country. For example, a German trader using a German broker is excluded, but a
German trader using a Cyprus-based broker is included.
CFDs were
held by about 1.4 million cross‑border retail clients in 2024, around 11% of
the total, while crypto‑assets within the MiCA perimeter were held by nearly 1
million cross‑border clients, or about 7%. Overall, shares were the most common
product, with 4.6 million clients, roughly 36% of the total.
Cyprus‑based
firms, 79 in total, reported servicing about 3.6 million cross‑border retail
clients, or roughly a third of the EU/EEA total. Lithuanian firms followed with
about 2.6 million clients, up sharply from 1 million in 2023, while German
firms served around 2 million clients and Irish firms about 939,000. All other
firms – 235 entities spread across 24 member states – jointly reported about
1.46 million cross‑border retail clients.
Investment
firms made up the majority of providers, accounting for 59% of the 370 firms,
with credit institutions representing the remaining 41%. Cyprus hosted the
largest pool of investment firms, while France and Germany were home to the
biggest numbers of credit institutions active cross‑border.
Germany, France, Spain,
Italy Are Key Destinations
On the
demand side, a small group of large markets attracted most of the incoming
activity. Germany, France, Spain and Italy together accounted for about 52% of
all retail clients receiving cross‑border investment services.
Roughly
1.62 million Germany‑based clients received services from 187 foreign firms,
broadly in line with 2023 levels. France, Spain and Italy together added about
3.9 million cross‑border retail clients in 2024, up by 1.3 million year‑on‑year
and representing around 37% of the total client base.
On average,
firms in each home member states provided services into 17.5 other EU/EEA
countries, underscoring the breadth of passporting links. In some cases,
individual firms based in Austria, Cyprus, Ireland and Lithuania reported
providing services to retail clients in all 29 other member states.
Complaints Jump 46% But
Look Less Extreme In Relative Terms
ESMA
recorded 10,968 complaints from cross‑border retail clients in 2024, up from
7,507 in 2023, a 46% rise in absolute numbers. Given the strong growth in the
client base, the average number of complaints per 100,000 retail clients
increased more moderately, from 94 to 104, equivalent to a 9.6% rise.
Germany‑based
firms received the largest share of complaints, accounting for about 45% of the
EU/EEA total, or 4,936 complaints in 2024 compared with 2,595 a year earlier.
Firms in Lithuania and Ireland each accounted for about 14% of complaints,
while Cyprus‑based firms were linked to about 10% and Dutch firms about 6%.
From the
host‑country perspective, clients in Austria, Spain and Italy filed the highest
numbers of complaints about cross‑border services, together making up about 46%
of all complaints lodged by retail clients. Austrian clients stood out in
relative terms, with 1,909 complaints from about 248,000 clients – roughly
7,674 complaints per million clients, around 656% above the EU/EEA average of
1,015 per million.
ESMA
cautioned that the complaint definition – “a statement of dissatisfaction by
the client” – is broad and may be interpreted differently across firms and
jurisdictions.
The
exercise is part of ESMA’s broader push to monitor how cross‑border business
affects retail investors and how home and host supervisors coordinate
oversight. The regulator plans to repeat the data collection in 2026,
continuing its focus on firm behavior, complaint patterns and concentrations in
specific products and jurisdictions.
The number
of retail clients using cross-border investment services in Europe climbed to
about 10.5 million in 2024, even as complaints from those clients jumped by
46%, according to new data from the European Securities and Markets Authority
(ESMA).
EU’s Cross-Border Market
Adds Millions Of Clients
ESMA’s
latest annual review of passported activity shows firms operating under the
“freedom to provide services” regime served roughly 10.5 million retail clients
in 2024, up from 8 million a year earlier, a 32% increase in
cross‑border clients. The analysis covers investment firms and credit
institutions providing services into other EU/EEA countries without using
branches, and only includes firms that have more than 50 retail clients in a
given host market.
In total,
370 firms across 30 EU/EEA jurisdictions met that threshold in 2024, down from
386 in 2023, marking a 4% drop in the number of active providers. On average,
each firm served about 28,000 cross‑border retail clients, up from 20,000 the
previous year, underlining how activity is consolidating into fewer, larger
players.
It is worth noting that the 10.5 million counts only clients receiving investment services from firms in other member states, not clients trading with firms in their home country. For example, a German trader using a German broker is excluded, but a
German trader using a Cyprus-based broker is included.
CFDs were
held by about 1.4 million cross‑border retail clients in 2024, around 11% of
the total, while crypto‑assets within the MiCA perimeter were held by nearly 1
million cross‑border clients, or about 7%. Overall, shares were the most common
product, with 4.6 million clients, roughly 36% of the total.
Cyprus‑based
firms, 79 in total, reported servicing about 3.6 million cross‑border retail
clients, or roughly a third of the EU/EEA total. Lithuanian firms followed with
about 2.6 million clients, up sharply from 1 million in 2023, while German
firms served around 2 million clients and Irish firms about 939,000. All other
firms – 235 entities spread across 24 member states – jointly reported about
1.46 million cross‑border retail clients.
Investment
firms made up the majority of providers, accounting for 59% of the 370 firms,
with credit institutions representing the remaining 41%. Cyprus hosted the
largest pool of investment firms, while France and Germany were home to the
biggest numbers of credit institutions active cross‑border.
Germany, France, Spain,
Italy Are Key Destinations
On the
demand side, a small group of large markets attracted most of the incoming
activity. Germany, France, Spain and Italy together accounted for about 52% of
all retail clients receiving cross‑border investment services.
Roughly
1.62 million Germany‑based clients received services from 187 foreign firms,
broadly in line with 2023 levels. France, Spain and Italy together added about
3.9 million cross‑border retail clients in 2024, up by 1.3 million year‑on‑year
and representing around 37% of the total client base.
On average,
firms in each home member states provided services into 17.5 other EU/EEA
countries, underscoring the breadth of passporting links. In some cases,
individual firms based in Austria, Cyprus, Ireland and Lithuania reported
providing services to retail clients in all 29 other member states.
Complaints Jump 46% But
Look Less Extreme In Relative Terms
ESMA
recorded 10,968 complaints from cross‑border retail clients in 2024, up from
7,507 in 2023, a 46% rise in absolute numbers. Given the strong growth in the
client base, the average number of complaints per 100,000 retail clients
increased more moderately, from 94 to 104, equivalent to a 9.6% rise.
Germany‑based
firms received the largest share of complaints, accounting for about 45% of the
EU/EEA total, or 4,936 complaints in 2024 compared with 2,595 a year earlier.
Firms in Lithuania and Ireland each accounted for about 14% of complaints,
while Cyprus‑based firms were linked to about 10% and Dutch firms about 6%.
From the
host‑country perspective, clients in Austria, Spain and Italy filed the highest
numbers of complaints about cross‑border services, together making up about 46%
of all complaints lodged by retail clients. Austrian clients stood out in
relative terms, with 1,909 complaints from about 248,000 clients – roughly
7,674 complaints per million clients, around 656% above the EU/EEA average of
1,015 per million.
ESMA
cautioned that the complaint definition – “a statement of dissatisfaction by
the client” – is broad and may be interpreted differently across firms and
jurisdictions.
The
exercise is part of ESMA’s broader push to monitor how cross‑border business
affects retail investors and how home and host supervisors coordinate
oversight. The regulator plans to repeat the data collection in 2026,
continuing its focus on firm behavior, complaint patterns and concentrations in
specific products and jurisdictions.
Damian Chmiel is a Senior Analyst & Editor at Finance Magnates with more than 15 years of experience in the CFD and online trading industry. Active as both a trader and journalist since 2010, he focuses on broker coverage, fintech innovation, and regulatory developments across Europe, the Middle East, and Asia.
His work includes interviews with C-level leaders at major brokerages and fintech platforms, as well as co-authoring Finance Magnates’ quarterly industry benchmarking reports. Damian’s reporting is data-driven, market-aware, and grounded in direct industry engagement. His analysis and commentary have also been cited by external media outlets, including Investing.com, Binance, The Asset, Stockhead, and Dispatch.
Education:
MA in Finance and Accounting, Cracow University of Economics
Today’s Tuesday, the 9th of June 2026, and these are our main stories: eToro’s customer assets climbed back above $20 billion, Prop trading model in prediction markets, and Leverate launched a new AI assistant for brokers and traders.
Today’s Tuesday, the 9th of June 2026, and these are our main stories: eToro’s customer assets climbed back above $20 billion, Prop trading model in prediction markets, and Leverate launched a new AI assistant for brokers and traders.
Today’s Tuesday, the 9th of June 2026, and these are our main stories: eToro’s customer assets climbed back above $20 billion, Prop trading model in prediction markets, and Leverate launched a new AI assistant for brokers and traders.
Today’s Tuesday, the 9th of June 2026, and these are our main stories: eToro’s customer assets climbed back above $20 billion, Prop trading model in prediction markets, and Leverate launched a new AI assistant for brokers and traders.
War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
War Stories: Lessons from 20 Years in Markets (the pain, the pitfalls and the profits)
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The trades that taught me the most aren't the ones that worked. They're the ones that didn't — or the ones I almost caught and didn't have the nerve to ride. In this session, I'll tell you about the Brexit miss, the SNB shocker that nearly handed me a 5400% return, the BoJ surprise that punched me in the gut, and a few wins along the way. Each story carries a lesson, but the lessons aren't the point. Everyone who trades long enough collects a portfolio of moments like these; what separates the people who stay in the game is what they do with them.
The Engine and the Fuel: How AI & Data Drives African Future
The Engine and the Fuel: How AI & Data Drives African Future
The Engine and the Fuel: How AI & Data Drives African Future
The Engine and the Fuel: How AI & Data Drives African Future
The Engine and the Fuel: How AI & Data Drives African Future
The Engine and the Fuel: How AI & Data Drives African Future
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
Inside My Best Trade with Jimmy Moyaha
Inside My Best Trade with Jimmy Moyaha
Inside My Best Trade with Jimmy Moyaha
Inside My Best Trade with Jimmy Moyaha
Inside My Best Trade with Jimmy Moyaha
Inside My Best Trade with Jimmy Moyaha
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
