Bundle, a Nigerian social payments app, has announced that it will be discontinuing its crypto exchange operations in Nigeria. This decision comes as the company aims to shift its focus towards payment solutions that better align with the needs of the ecosystem.
Bundle has been a prominent player in the Nigerian crypto space, with a reputation for providing a seamless user experience and reliable services. However, the company has decided to streamline its operations and concentrate solely on its payment solutions.
According to Bundle, users will still have the ability to withdraw their assets from the app until September 12, 2023. This means that users will have ample time to transfer their funds to any preferred exchange or withdraw their assets altogether.
To facilitate a smooth transition, Bundle has also provided multiple options for Nigerian users to withdraw their funds. Those with a balance less than $10 can withdraw their naira using Cashlink, a convenient option for smaller amounts. Additionally, users can transfer funds to their bank accounts through P2P express, ensuring a hassle-free process for users to access their funds.
The decision to discontinue the crypto exchange operations may come as a disappointment to some users who have grown accustomed to Bundle’s services. However, the company believes that this strategic shift will allow them to better serve the evolving needs of the ecosystem.
Bundle’s decision to focus on payment solutions aligns with the growing demand for digital financial services in Nigeria. With a population of over 200 million people, Nigeria has emerged as a key market for fintech innovation. By concentrating on payment solutions, Bundle aims to tap into this market potential and offer a wider range of services to its users.
The Nigerian crypto community will undoubtedly be affected by the discontinuation of Bundle’s crypto exchange operations. However, the company’s commitment to supporting the withdrawal of assets and providing alternative options demonstrates its dedication to ensuring a smooth transition for its users.
As the crypto landscape continues to evolve, companies like Bundle must adapt their offerings to remain competitive and meet the changing needs of their users. While the discontinuation of the crypto exchange operations may mark the end of one chapter for Bundle, it also signifies the beginning of a new chapter focused on providing innovative payment solutions to the Nigerian market. Users can expect even more convenience and efficiency in their financial transactions as Bundle moves forward with its new direction.
