Categories: Start-ups

Introducing ‘Bundle’ the social payments app for cash and crypto

Bundle, an Africa-focused social payments appfor cash and cryptocurrencies, backed by Binance, today has launched in Nigeria. Founded by Yele Bademosi, formerly a director at Binance Labs, Bundle allows users to request, send and receive cash or crypto from their peers.

Users are able to buy, sell and store digital currencies such as BNB, BTC and ETHas well as deposit/withdraw digital currencies and local fiat currencies; starting with NGN (Nigeria Naira) and many more fiat currencies in the coming weeks. These transactions can be processed via various payment channels such as cards, bank transfer, and Mobile Money as well as safely stored in Bundle’s SmartWallet.

About40 percent of banked Africansprefer to use digital channels for banking transactions and use advanced financial tools. Africa as a whole has the largest youngest population in the world with a median age of 19 and more than 1 billion people expected to be born over the next 30 years.Bundle aims to serve this young, digitally savvy and majority demographic that will lead Africa’s new and promising digital economy.

Despite its boundless human and economic potential, the Binance and Bundle team believe that Africa faces formidable socio-economic challenges such as access to financial services and hyperinflation that require bold, innovative, and alternative solutions. Bundle is one of them.

We built Bundle with the digitally native African user in mind. They are social, online and connected across geographical boundaries.

They prefer their financial services delivered digitally via mobile apps as opposed to visiting brick and mortar bank branches.

We built Bundle as a mobile wallet that supports cash and crypto, and makes using crypto feel like just another digital financial transaction done on a mobile app like Venmo,

says Bundle Founder Yele Bademosi.

Bundle’s product vision is to evolve into a super-app with a native digital wallet that supports crypto and cash – one that becomes a tech essential to everyday life for Africans and the world.

“We believe Africa has several characteristics that make it a prime geographical location for the realization of the full potential of digital currencies, blockchain, and its applications.

Currently, only 1.4 million people out of 1.2 billion people in Africa use crypto today. This is a worthwhile mission because making the blockchain ecosystem more accessible unlocks economic opportunity on and for the continent,”

says Bundle Chief Technical Officer, Taiwo Orilogbon.

Bundle will initially launch with 0 fees however KYC verification and fiat deposit and withdrawal limits apply*. The Bundle Android app is currently availableand the iOS app will be available in the coming weeks. Bundle does not currently support a desktop version.

Bundle plans to support over 30 African countries by the end of the year, creating a simplified fiat on/off ramp for crypto on the continent. 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 whilst creating more daily use cases for it.

In September 2019, Bundle closed a successful pre-seed fundraise – raising $450k from Binance, the global blockchain company behind the world’s largest cryptocurrency exchange by trading volume and users, and various African investors.

However, while Bundle is the first of many projects incubated within the Binance ecosystem, Bundle operates as an independent entity from Binance.In the past, Binance has either invested in companies via Binance Labs or provided grants via Binance X. Bundle is backed by Binance with other African investors – including PAVE investments.

About Bundle

Bundle is an African-focused social payments app for cash and cryptocurrencies.

Visitwww.bundle.africafor more information.

About Binance

Binance is the global blockchain company behind the world’s largest digital asset exchange by trading volume and users, serving a greater mission to accelerate cryptocurrency adoption with 25+ products, projects and initiatives including:

Binance Exchange(Binance.com): Binance Futures, Spot & Margintrading, BinanceSavingsand Binance Staking

Binance Academy: non-profit blockchain and crypto educational portal

Binance Charity: non-profit organization and first blockchain-powered donation platform dedicated to advancing transparent philanthropy

Binance DEX: community-driven decentralized exchange developed on top of the Binance Chain blockchain for issuing and exchanging digital assets in a decentralized manner

Binance Fiat Gateways: buy-and-sell crypto platform, covering 170+ countries and regions through local payments partners and P2P platforms. Fiat-to-Crypto Platforms:joint ventures with global partners to buy, sell and trade crypto: Binance

US, BinanceJersey, Binance Singapore, Binance Uganda, Binance Lite Australia

Binance Labs: venture arm and incubator, investing in and supporting early-stage blockchain startups and infrastructure projects

Binance Launchpad: exclusive token launch platform for supporting transformative blockchain startups and entrepreneurs

Binance Research:institutional-grade, data-driven insights and analysis for crypto investors

Binance X: developer-focused initiative to foster innovation of blockchain developers and cultivate industry growth and meaningful use cases

Other initiatives include: Binance Cloud(end-to-end enterprise solution for launching exchanges), Binance Info(market news and insights), Trust Wallet(mobile wallet and dApp browser)

For more information, visit: Binance.com.

(Visited 16 times, 1 visits today)
Innov8tiv.com

Innov8tiv is a dynamic Web source for technology news, resources and innovation, with a special focus on the entrepreneurial advances of Africans on the continent as well as in the Diaspora. This site seeks to not only inform consumers and companies about the latest in tech trends and ideologies, but to shed light on a phenomenon often ignored: the inventive, life-changing and creative engine that exists in Africa and among leaders of color around the world, including the UK, the Caribbean, Australia, and Asia. Send story ideas to info@innov8tiv.com

Recent Posts

Making Good Decisions when it comes to Your Business Venture

It all starts with one idea. That one idea that comes to you just as…

1 day ago

How to Choose WordPress Development Company and Not to Waste Your Money

Nowadays, choosing a WordPress developer is a challenge. Hundreds of web developers worldwide offer their…

1 day ago

Coronavirus Tracking Apps: Are They Compliant With Human Rights and Data Laws?

You’ve likely heard about the Coronavirus. But have you heard about the extreme measures some…

2 days ago

The New Normal: 5 Components of a Successful Virtual CPA Practice

As the world emerges from quarantining, a new normal takes over. The pandemic necessitated working…

3 days ago

4 Best HubSpot Alternatives for All Your Business Automation Needs

What is business automation? When you create a framework to capture and render information at…

3 days ago

Up Your Business Game, and See the Results

Businesses are wasting time, energy and opportunities every day. Management and Organization are the two…

3 days ago