With 1.4 billion adults still unbanked globally and billions of people depending on costly remittances, the PayFi model is offering a groundbreaking alternative.

According to the latest PayFi Report by Foresight Ventures and Bitget Wallet, the PayFi model, which combines DeFi with everyday spending, is not only a way to reduce transaction costs but also an innovative way to democratize financial access.

What are the broader implications of the PayFi model and how are crypto wallets becoming an essential tool for managing personal finance?

On Wealth Tracker, Hongbin Jeong speaks with Alice Li, Head of North America for Foresight Ventures to find out more.