Social Payments Platform, Bundle Africa Set to Launch in Ghana

Bundle Suspends Naira Payments as Crypto Exchanges Adjust to CBN Ban

Africa-focused social payments app, Bundle Africa is set to launch in Ghana. This was revealed in an announcement by the company via its official Twitter handle.

Ghana is Africa’s fourth largest cryptocurrency market, trailing Nigeria, South Africa and Kenya in trade volume of peer to peer (P2P) transactions processed across the continent.

Bundle Africa has been operational in only Nigeria since it launched in April this year. The social payments app facilitates cash and cryptocurrency transactions among peers.

A product of Bundle Wallet Technology, the app was developed by Yele Badamosi –  CEO of VC firm, Microtraction and former Director of Binance Labs.

Binance Spinoff Aims To Be Bitcoin-Powered Venmo Of Africa

Launching in Nigeria first didn’t particularly come as a surprise as Nigeria was clearly leading the African continent in peer to peer (P2P) bitcoin transactions.

Users in Nigeria are able to trade cash in Naira and cryptos including Bitcoin (BTC), Ethereum (ETH), Binance utility token BNB and its dollar-based stable coin BUSD.

Suggested read: Here are the Top 5 Exchanges to Buy and Sell Bitcoin and Other Cryptos in Africa

Social Payments Platform, Bundle Africa Set to Launch in Ghana

Africa has witnessed a surge in the adoption of cryptocurrency largely due to the predominant tech-savvy youthful population and the continent’s volatile currencies.

According to a CoinMarketCap report, Africa has the second-highest adoption of cryptos worldwide, sparked by a youth growth rate of 91.5%.

Bundle will seek to leverage this as it takes its cash/crypto payments solution to the Ghanaian market. While the app currently allows for only Nigerian Naira as fiat currency for cash transactions, its Ghana launch means that Ghanaian Cedis will be now be supported on the platform.

Reactions

A number of reactions across social media have followed the announcement of the payment app’s imminent launch in Ghana.

One Twitter user, Mathias Aseh was curious to know if Bundle in Ghana would be offering all the features supported on its Nigerian platform. These services include the chat-like user interface, crypto integration and payment options through credit/debit cards, bank transfers and mobile money.

Apparently, Bundle will be providing all these features in Ghana as well.

Micky opined that Ghanaians had already been expecting the service to launch in the country. Another user, Larry agreed with Micky’s comment. “Finally some good crypto socket to use,” he remarked.

Bundle in Nigeria

Bundle has been operating in Nigeria for about 7 months. The social payments platform first introduced its android app in April before it launched the iOS version in June.

Yele Bademosi's New Social Payments App, Bundle Launches Today

Barely a month later, the app had registered 10,000 users and recorded an all-time high of $1 million worth of crypto traded in one week.

As of August this year, the platform had signed up over 30,000 users in Nigeria and posted above $4 Million in trade volumes of crypto transactions, according to BitcoinKE.

Going forward, Bundle Africa will seek to replicate or better still, eclipse this performance when it commences operations in Ghana.


If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.


SUBSCRIBE

Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.


Related Posts