Bundle Suspends Crypto Services

The firm’s shareholders made the decision, and all Bundle customers are advised to withdraw their funds by September 12, 2023.

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Popular Nigerian social payments app, Bundle, has announced the discontinuation of its cryptocurrency exchange service. The decision came as part of a reorganization plan by the firm’s shareholders to focus on its Cashlink service. Operations of the exchange services will be halted, as stated in the company’s blog on July 20.

Bundle, a popular social payments app in Nigeria, stated in a recent statement that its shareholders made the decision to discontinue its cryptocurrency exchange service. The move comes as the firm recognizes the growing significance of offering payment solutions tailored for the Web3 and blockchain ecosystem.

Withdraw Funds Before It’s Too Late

Bundle confirmed that customers who do not have Nigerian naira or other supported currencies on the platform will no longer be able to register for an account, deposit assets into their Bundle wallet, conduct asset exchanges (except for USDT), or withdraw using Cashlink.

Bundle has advised all of its customers to withdraw their funds from the app before September 12, 2023. The company has provided specific withdrawal procedures for customers in Nigeria, Ghana, Kenya, and other francophone nations to ensure a smooth and effective process.

Withdrawal Options for Bundle Users in Nigeria and Other Countries

Users in Nigeria and other countries can transfer their Bundle cash to cryptocurrency exchanges, utilize Cashlink or P2P express to obtain naira or transfer money to their bank accounts. If the account balance is less than $10, they can cash out using the provided link.

CBDC Adoption in Africa: eNaira Leads the Way

Nigeria introduced eNaira in October 2021 as Africa’s first Central Bank Digital Currency (CBDC) and the second in the world. Since then, other nations have also announced plans to launch their own CBDCs.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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