1st Binance incubated project: Bundle, the African payment app for cash & crypto

1st Binance incubated project: Bundle, the African payment app for cash & crypto

By CryptoGremlin | Binance Cloud | 23 Apr 2020


The Bundle app will allow users to send, receive & request naira and crypto currencies for free.

Similar to Venmo or Square’s Cash App, Bundle is an African payment app that allows users to request, send, receive & spend Bitcoin (BTC), Ether (ETH), and Nigerian naira (NGN) with little more than the recipient’s phone number. Unlike existing apps Square, Bundle will also let users spend Binance coin (BNB), Binance's native cryptocurrency

Bundle’s vision is to evolve into a super-app with a native digital wallet that supports crypto and cash, one that becomes an ultimate utility in everyday life for Africans and the world - wow! 

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Founded by Yele Bademosi (formerly a director at Binance Labs) Bundle's aim is to make economic freedom & prosperity a reality for all Africans. They aim to drive crypto adoption on the continent by making it more fun and easy to use.

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“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,”

What does this mean for Crypto in Africa? 

Africa as a whole has the largest youngest population in the world, with a median age of 19 and over billion people expected to be born over the next 30 years. Bundle is targeting young, digitally savvy consumers. Forbes have suggested that Bundle aim "to be the Bitcoin-Powered Venmo of Africa" 

But Crypto Gremlin, what does this mean for Binance & BNB?

Bundle users will also soon be able to spend and *save* BUSD - 'Binance U.S. dollars'. BUSD is a stablecoin backed by U.S. dollars and approved in American by the New York State Department of Financial Services (NYDFS) which has historically taken a hard line against cryptocurrency companies.

Bundle has the potential to introduce millions of African users to the Binance ecosystem.

Described by Forbes as a 'Binance Spinoff', Bundle is one of 5 African start-ups that Binance are now funding. The Crypto Gremlin will be following closely and also eagerly awaiting news about other African and global start ups incubated by Binance.

Exciting times, watch this space. 


CryptoGremlin
CryptoGremlin

"The CryptoGremlin writes simple yet insightful commentary on the goings on in the crypto markets". Dalai Lama - Dec '17


Binance Cloud
Binance Cloud

Problems with Binance servers, some disgruntled customers and a sell off in the crypto markets isn't the ideal setting the before Binance Cloud news is released. I'll be taking a look to see how BNB's short-term price reacts to the news and, anticipating further utility for BNB, what it could mean for long-term BNB holders too.

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