Focusing on China's rapid increase in FinTech penetration, the authors examine how FinTech can help lower investment barriers and move households toward optimal risk-taking. Using a unique measure of FinTech adoption, which tracks the usage of offline digital payments in China, the authors capture significant variations in FinTech adoption across individuals of different risk aversions, and in FinTech penetration across cities with varying coverage of financial services. They find that FinTech adoption improves risk-taking for all, with more risk-tolerant individuals benefiting more. They also find that cities with low financial-service coverage benefit the most from FinTech penetration. Overall, their results show that, by unshackling the traditional constraints, FinTech improves risk-taking for individuals who need it the most and extends financial services to areas least served by banks.