Bundle Africa Stops Exchange Services - Blockchain.News

Bundle Africa Stops Exchange Services

Bundle Africa is discontinuing its exchange services to focus on Cashlink, a Web3 payment solution. Users are advised to withdraw funds by September 10, 2023. The shift reflects the growing needs of the blockchain community.

  • Jul 22, 2023 10:27
Bundle Africa Stops Exchange Services

Bundle Africa, a prominent player in the crypto space, has announced that it will be discontinuing its exchange services to concentrate on Cashlink, its payment solution for the Web3 ecosystem. The announcement was made on July 20, 2023, and the last day of operations for the exchange services is set for September 10, 2023.

Accordingt to the announcement, Bundle Africa has achieved significant milestones, including Cashlink processing over 3 million transactions and Bundle itself reaching 50,000 monthly active users with a monthly volume of $50 million over the past three years. However, the decision to cease exchange services comes as part of a strategic shift to focus on payment solutions that meet the growing needs of the Web3 and blockchain community.

For Nigerian users of Bundle, the company advises withdrawing all funds to an exchange of their choice or, for those holding NGN, withdrawing it through Cashlink into their bank account. The same advice applies to Ghanaian users, who can also convert their GHS to USDT and transfer it to another wallet. Kenyan and Francophone users are advised to convert their KES or XAF to USDT and withdraw it through the blockchain or transfer it to another wallet.

Users holding less than $10 in their accounts can withdraw using a provided link, but cannot withdraw less than $10 from their Bundle account. The last day for withdrawal if you have less than $10 is August 30, 2023. After this day, funds will be automatically converted to USDT.

From the date of the announcement, users will no longer be able to sign up on Bundle, deposit assets into their Bundle wallet, swap assets in their Bundle wallet (except for USDT), or withdraw with Cashlink if they do not have NGN or fiat on Bundle.

Bundle Africa has scheduled a community AMA today to address any questions or concerns from its users. As the company transitions from exchange services to focusing on Cashlink, it marks a significant shift in its business strategy, reflecting the evolving needs of the blockchain and Web3 community.

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