Major cryptocurrency exchange Binance has revealed a new social payments app for the crypto community in Africa. Dubbed ‘Bundle’, the app is designed for people in Africa to hold, sell, or purchase crypto, and do same with cash as well.
In an official announcement, Binance explains its ambitious plan for Bundle. It says the app’s product vision is to “evolve into a super-app” that eventually becomes “an ultimate utility” for all Africans as they go about their daily lives.
For now, Bundle only supports the Nigerian Naira (NGN) and hopes to add more African fiats in the coming weeks. It also hopes to support at least 30 African countries before the end of 2020.
Bundle allows users to handle transactions, processing these transactions via a series of channels. These channels include debit and credit cards, Mobile Money, bank transfers and also via the app’s SmartWallet. Bundle currently supports Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB).
According to Bundle founder and former Binance Labs director Yele Bademosi, Bundle hopes to make it easier for Africans to use crypto.
“We built Bundle with the digitally native African user in mind…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.”
Bundle is incubated in the Binance ecosystem but operates independently.
As Binance continues to expand its services, it recently added the Indonesian and Indian fiats to its P2P platform.