Bundle Africa, a significant player in the crypto field, has stated that it will discontinue its exchange services in order to focus on Cashlink, its payment solution for the Web3 ecosystem. The announcement was issued on July 20, 2023, and the last day of operation for the exchange services is slated for September 10, 2023.
According to the statement, Bundle Africa has reached key milestones, including Cashlink completing over 3 million transactions and Bundle itself achieving 50,000 monthly active users with a monthly volume of $50 million over the past three years. However, the decision to discontinue exchange services is part of a strategy shift to focus on payment solutions that satisfy the expanding demands of the Web3 and blockchain communities.
For Nigerian Bundle users, the business recommends moving 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 change their GHS to USDT and transfer it to another wallet. Kenyan and Francophone customers are encouraged to change their KES or XAF to USDT and withdraw it over the blockchain or transfer it to another wallet.
Users with less than $10 in their accounts can withdraw using the supplied link, but they cannot withdraw less than $10 from their Bundle account. If you have less than $10, the withdrawal deadline is August 30, 2023. After this date, money will be automatically converted to USDT.
Users will no longer be able to sign up on Bundle, deposit assets into their Bundle wallet, trade assets in their Bundle wallet (save for USDT), or withdraw with Cashlink if they do not have NGN or fiat on Bundle as of the date of the announcement.
Bundle Africa has arranged a community AMA for today to discuss any queries or issues from its users. As the company shifts its focus from exchange services to Cashlink, it signals a significant shift in its business strategy, reflecting the increasing needs of the blockchain and Web3 communities.