The Gluwa protocol is listed among the most promising decentralized financing solutions for unbanked people around the world
Gluwa, an integral decentralized finance protocol, is chosen among the best solutions for emerging economies and unbanked societies.
Gluwa from Creditcoin listed in Inclusive Fintech 50
According to a statement shared by the Gluwa team on their social media channels and blogs, their product is included in Inclusive Fintech 50 as the winner of the 2021 round.
This year, the organizers of the event had to choose between 400 eligible applicants. Candidates for this competition are early stage startups that deal with financial inclusion use cases.
The winners proposed blockchain-based solutions that can help unbanked populations to access basic financial services without bank accounts and identification procedures.
Tae-Lim Oh, co-founder and CEO of Gluwa, stressed the importance of this recognition for the adoption and progress of Gluwa:
We are honored to have been selected for the Inclusive Fintech 50 competition. Our project aims to leverage fintech and crypto to create basic financial services for those who have not been served so far. Our vision is fully aligned with the spirit of Inclusive Fintech 50, which is why this is going to be a great opportunity for us to create a network with investors or start-ups who want to make the vision a reality.
IF50 is backed by fintech heavyweights and large nonprofits including Visa, MetLife Foundation, Accion, IFC and Jersey Overseas Aid & Comic Relief. The initiative is curated by the Center for Financial Inclusion (CFI).
Bring DeFi solutions to the unbanked
Gluwa is a pioneering decentralized financial protocol on Creditcoin, a new platform distributed without authorization. Its ecosystem includes a noncustodial wallet and decentralized lending module.
As previously covered by U.Today, Gluwa processed over a million transactions in the first few days of integrating with the African credit app Aella.
Its lending/borrowing toolkit allows users to earn up to 12% in APY on idle cryptocurrency.
