Developed markets make up only 43 percent of global gross domestic product and are generally not required to hold much foreign exchange reserves, yet they have been able to issue 87.5 percent of the world’s bonds. It is emerging market central banks that buy 80 percent of those bonds as foreign exchange reserves to gain market credibility.
Because of financial immaturity, emerging market banks can charge huge fees, and — except for a small band of powerful elites — offer little local access to capital. The general population and the small local merchants remain largely unbanked or underbanked.
http://www.breitbart.com/big-government/2016/03/27/bitcoin-is-crushing-bank-fees-in-emerging-economies/Rather than banks, it is the Money Transfer Organizations like Western Unions which charge huge fees. They have to comply with anti money laundering legislation in multiple geographies and this cost gets loaded on to the transfer fees. Expect them to lobby hard with governments to restrict the use of remittance companies which use bitcoin as the backbone for their transfers.
