Bundle Africa has launched a social payment application for cash and cryptocurrency transactions.
The Bundle app, which was formally launched in Nigeria on Thursday, will allow users to buy, sell, and hold fiat and digital currencies.
According to the founder, Yele Badamosi, the app was specially built to serve the need of the typical native African user who prefers “financial services delivered digitally via mobile apps as opposed to visiting brick and mortar bank branches.”
This app launch is coming after the firm closed a financing round with Binance, one of the blockchain companies behind large cryptocurrency transactions.
Badamosi, who is also a former Director at Binance Labs, added that the Bundle app is the “zero-fee solution” needed to facilitate Africa’s emerging digital economy, and is set to unify traditional fintech and open finance.
Bundle’s Chief Technical Officer, Taiwo Orilogbon said that the app comes at the right time to encourage the full exploration of the continent’s potentials in digital currencies, blockchains, and related 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” Orilogbon said.