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Nigeria reveals social payments app for cash and crypto

Thursday 23 April 2020 12:15 CET | News

An Africa-based social payments app for cash and cryptocurrencies, dubbed Bundle and backed by Binance, has launched in Nigeria. 

Bundle allows users to request, send, and receive cash or crypto from their peers. As such, 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 currencies, starting with NGN (Nigeria Naira) and many more fiat currencies. 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. 

In addition, 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’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. 

Bundle will initially launch with 0 fees, however, KYC verification and fiat deposit and withdrawal limits apply. In addition, Bundle plans to support over 30 African countries by the end of 2020, creating a facilitated 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 to drive crypto adoption on the continent.

 


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Keywords: Nigeria, social payments app, cash, cryptocurrencies, Binance, digital assets, KYC, Fiat, verification, fees, digital wallet, digital currencies
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Nigeria
This article is part of category

Blockchain & Cryptocurrencies