“Bundle” a new cryptocurrency Payment App launches in Nigeria.
A new social payment app named Bundle was recently launched in Nigeria. The app allows users to request, send, and receive cash (Nigerian Naira) or crypto currency like Bitcoin, Binance Coin, and Ethereum.
This platform is among the many crypto platforms launched throughout Africa (and Nigeria) including the likes of Luno, Bitmari, and Abra. among others. As Africa undergoes massive digitization there is strong interest in and demand for bitcoin and other digital currencies. There are millions of users of cryptocurrency in Africa, with Nigeria, Ghana and South Africa leading the charge.
Bundle claims to be unlike its current counterparts as it offers its services without the need to be connected to a bank account by just a search through Telegram or WhatsApp contacts.
As its name suggests, the goal of the app is to bundle up essential services in Africa perhaps inspired by China’s WeChat or Alipay Apps. Since most existing cryptocurrency exchanges seem entrenched in their relative markets, the strategy of expanding services offered on the app is a sound one. That being said, the app must first carve up a market share in the cryptocurrency market in order to build a loyal user base before it can then expand and offer a multitude of other services. Both Wechat and Alipay, for example, both relied on an existing large and loyal user base to drive their growth into other services and markets. It will be interesting to see what tools will Bundle use in its drive to reach a critical mass of users.