Bundle Africa shutdow it Exchange Services
- on Jul 22, 2023
|Bundle Africa CEO, Emmanuel Babalola|
Bundle Africa, a Nigerian crypto payment application and web.3 startup, has put an end to it crypto exchange platform to focus more on Cashlink, its peer-to-peer (P2P) community.
In a press release, Bundle Africa cited that it crypto exchange services closure is followed “as part of the Shareholders’ conclusion-after-consideration to restructure the business model to focus more on Cashlink”.
The company further highlighted that as the web.3 and blockchain community is enhancing in improvement, it’s necessary to pay more attention to payment solutions that meet the ecosystem’s needs, this is why goals is aimed at Cashlink.
Bundle Africa is a crypto platform that allows users to make use of web.3 application to get in and out cash. After three (3) years of operations, the fintech is finally getting rid off it exchange services.
Regarding the closure declaration, Bundle Africa users will be unable to create an account on the platform, plus depositing crypto assets into their wallet, or swap assets in their wallets except for USDT, and withdraw with Cashlink.
However, Bundle Africa users are beseeched to cash out all their funds to any external exchange of their choice. Moreover, do note that it’s stated in the statement that the last day for users to withdraw or convert their funds and assets to USDT is the 30th of August, 2023.
Failure to withdraw or convert their funds before the due date will leads to automatic conversion of the funds or assets to USDT. Furthermore, Bundle Africa stated that Nigerian users can withdraw their funds via Cashlink or through P2P Express.
However, for Ghanaian users, Bundle Africa made it clear that they can cash out all assets and funds (I Cedis) to USDT and transfer to any other wallet or bank account of their choice.
According to Bundle Africa CEO Emmanuel Babalola wrote in a tweet “We will continue to offer our investors, traders and the community with unparalleled support during this time, even as the business transitions to Cashlink and other services”.
Despite the fact that the Bundle Africa’s crypto exchange service is going down, the company is still assuring safety of User’s funds and will still be available for withdrawal till August 30, 2023.