Cryptocurrency exchange Binance announced on Thursday the launch of the Africa-focused social payments app for cash and crypto, Bundle. Binance reported that Bundle, which was founded by Yele Bademosi, formerly a director at Binance Labs, Bundle allows users to request, send, and receive cash or crypto from their peers. Binance explained:
“Bundle’s product vision is to evolve into a super-app with a native digital wallet that supports crypto and cash – one that becomes an ultimate utility in everyday life for Africans and the world. Users can buy, sell, and store digital currencies such as BNB, BTC, and ETH, as well as deposit and withdraw digital currencies and local fiat starting with NGN (Nigeria Naira) and many more fiat currencies in the coming weeks.”
While sharing more details about the app, Bademosi stated he and his team built Bundle with the digitally native African user in mind.
“We decided to build a mobile wallet that supports cash and crypto, and makes using crypto feel like just another digital financial transaction done on a mobile app,”
Binance further reported that the transactions processed through various payment channels such as cards, bank transfer, and Mobile Money as well as stored in Bundle’s SmartWallet. Bundle is also planning to support more than 30 African countries by the end of 2020.
“Bundle’s mission is to make economic freedom and prosperity a reality for all Africans – and aims to drive crypto adoption on the continent by making it more fun, easy to use, and inclusive for Africans while creating more daily use cases for it. Africa as a whole has the largest youngest population in the world, with a median age of 19 and one billion+ people expected to be born over the next 30 years. Bundle is targeting young, digitally savvy, educated consumers with spending power.”