Well the peso is usable for cash transactions. The unbanked only lack the ability to transact online. That is where the action is in terms of marketing to them.
I presume you mean M-pesa?
https://en.wikipedia.org/wiki/M-PesaStill, this does not represent a good store of value, and crypto in general probably isn't that because of the massive volatility. This is why things like nuBits and bitUSD are compelling offerings if they could be made to work more robustly.