Former Binance Labs director Yele Bademosi announced today the launch of Africa-focused social payments application Bundle, which will allow users to send and receive cash and crypto. The application has been running in stealth mode for the last couple of months, Yele informed. Interestingly, Bundle has received $450,000 in pre-seed funding from Binance.
1/n I'm super excited to announce Bundle (@BundleAfrica), an Africa-focused social payments app for cash and crypto 💸
— Yele Bademosi 夜雷 (@YeleBademosi) April 23, 2020
The launch of Bundle is particularly a big leap for the African crypto community, as it would allow seamless integration of traditional and decentralized money. Incubated by the Binance Labs, Bundle is aimed at becoming the ultimate utility wallet for everyday usage in Africa. In a tweet announcing the launch, Binance stated that Bundle’s mission is to make economic freedom and prosperity a reality for all Africans.
Bundle’s mission is to make economic freedom and prosperity a reality for all Africans.https://t.co/QjVlr2yMqa
— Binance (@binance) April 23, 2020
Commenting of the launch of his brainchild project, Yele said,
“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 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.”
The launch of an app that is focused on an emerging region, which allows such seamless integration, is an example of the future of the crypto industry. The launch caught the attention of Nischal Shetty, the CEO of the Binance owned WazirX, India’s premier crypto exchange. Shetty congratulated Yele, stating that it was good to see the crypto progress being made in Africa.
— Nischal (WazirX) ⚡️ (@NischalShetty) April 23, 2020
In the twitter thread, Yele stated that users would be able to send cash or crypto to any phone number in Nigeria for free, further adding that blockchain and crypto are the biggest innovations of this generation, and potentially as impactful as the Internet.