In a country where over 34 million adults still live outside the formal banking system, one blockchain startup is stepping up to challenge the status quo.

Xenea, the rising Web3 wallet platform, has officially completed development of its latest wallet version. According to CEO and Co-founder Toku, this is more than just a product launch—it’s about providing a viable alternative to the traditional bank account. The company’s target? The millions of people left behind by conventional finance, starting with the Philippines.

“XENEA Wallet aims to serve as an upgraded alternative to traditional bank accounts in people’s daily lives,” Toku stated in an official tweet on X.

The Filipino Financial Divide

According to data from the Bangko Sentral ng Pilipinas (BSP), as of 2021, 44% of Filipino adults remain unbanked. Common barriers include lack of income, ID requirements, and limited physical access to financial institutions.

Yet mobile penetration in the Philippines remains high, with over 76 million smartphone users. This disconnect between digital connectivity and financial inclusion is the opportunity Xenea is building toward.

Xenea’s Answer: Finance Without Friction

The latest wallet version will launch with basic functionality. But the next update is already on the roadmap. In the same tweet, Toku confirmed that “through new strategic partnerships, we will provide on/off ramp services across more than 50 countries.”

This opens up significant potential for cross-border use cases—particularly for remittances, savings, and gig economy earnings. It also means users won’t need a bank account to convert between crypto and fiat currencies.

Alongside that, Xenea’s ecosystem includes a node network where users can earn incentives, further enhancing its role as a self-sustaining financial tool.

Designed for the Unbanked, Built Around Community

One of Xenea’s unique approaches lies in its community-centric design. The company understands that financial needs vary from country to country, and even region to region within the same market.

“We recognize that wallet feature preferences vary by user and differ significantly across countries,” Toku wrote on X.

That’s why Xenea is encouraging user feedback to shape future updates. A call to action included in the tweet urges users to share in the comments what features they’d like to see implemented.

What’s Next for Xenea

With the application development complete and launch underway, Xenea is focusing its marketing on unbanked regions. The Philippines is a strategic starting point, given the large population of financially underserved citizens and widespread mobile usage.

The message is clear. As Toku emphasized: “With XENEA Wallet alone, individuals without access to existing financial systems can manage their financial needs while earning incentives as part of our node network.”

Conclusion: A Wallet With a Mission

While many crypto projects race to capture market share among already-connected users, Xenea is heading in the opposite direction. It’s starting with the people who need financial tools the most.

By targeting unbanked populations like those in the Philippines, and offering tangible use cases such as earning, saving, and transacting, Xenea is reimagining what a wallet can be.

And according to Toku, it’s only the beginning.

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