Bundle, a social payment app for cash and crypto will close down after three years of operation. Cashlink, its peer-to-peer platform which recently crossed over 3 million total transactions in less than two years, will continue to operate independently to accelerate the adoption of crypto in Africa.
Last year, Bundle Africa became the first local cryptocurrency exchange to surpass one million app downloads and became the most-used indigenous crypto app in Nigeria.
Despite this feat, and an increasing number of eager users looking to explore more blockchain features, Bundle Africa will cease operations of its exchange services as part of the Shareholders’ decision to restructure the business to focus on cashlink.
Bundle has constantly innovated around uncertain crypto regulatory conditions, which became visible in the swift launch of Cashlink after the crypto restrictions in 2021. However, as a customer-first organisation, giving our users the best service is our number one priority.
According to Emmanuel Babalola, the CEO of Bundle, “Irrespective of this early exit, Bundle Africa has made its mark on the African continent, providing our users with a best-in-class experience for crypto, making it easier and safer to access crypto services. Our users can withdraw their funds into any wallet. Over the next 60 days, we will provide our users and stakeholders with unparalleled support as we transition to Cashlink and other services.
As a result of the exit, sign-ups on Bundle are immediately suspended and Bundle users are advised to withdraw their assets within the next 60 days and note that deposits and swaps will be turned off.
The Bundle team will be phasing out in batches to support its operations till its eventual exit closes. Even though this is the end of the journey for Bundle Africa and its team, the exchange has left its footprint in the African market and is excited to have driven the adoption of crypto in Africa.
If you have any questions, please reach out to Timileyin@bundle.africa.
