Facebook's Libra may serve the underbanked. Mobile technology companies may do the same using good old-fashioned dollars. — dpa
As Facebook touts a new cryptocurrency as a way to serve people who are underbanked, mobile technology companies may provide the same path to financial services using good old-fashioned dollars.
The technology would avoid many risks worrying lawmakers and regulators, such as money laundering and undermining the Federal Reserve's ability to set monetary policy. But some who track these technologies say allowing tech companies to become the bankers for the underserved carries risks of its own.
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