Bundle Africa, a prominent player in the crypto space, has announced that it will discontinue its exchange services to focus on Cashlink, its payment solution for the Web3 ecosystem. The announcement was made on July 20, 2023 and the last trading day of the exchange services is set for September 10, 2023.

Per the announcement, Bundle Africa has achieved significant milestones, including Cashlink processing over 3 million transactions and Bundle itself reaching 50,000 monthly active users with monthly volume of $50 million over the last three years. However, the decision to suspend exchange services is part of a strategic shift to focus on payment solutions that meet the growing needs of the Web3 and blockchain community.

For Nigerian Bundle users, the company advises withdrawing all funds to an exchange of your choice or, for those who hold NGN, withdrawing via Cashlink to your bank account. The same advice applies to Ghanaian users, who can also convert their GHS to USDT and transfer it to another wallet. Kenyan and French-speaking users are advised to convert their KES or XAF to USDT and withdraw it via the blockchain or transfer it to another wallet.

Users with less than $10 in their accounts can withdraw using a link provided, but cannot withdraw less than $10 from their bundle account. The last day to withdraw money if you have less than $10 is August 30, 2023. After this day, funds will be automatically converted to USDT.

As of the announcement date, users will no longer be able to sign up for Bundle, deposit assets into their Bundle wallet, trade assets in their Bundle wallet (except USDT), or withdraw with Cashlink if they do not have NGN or fiat in Bundle.

Bundle Africa has scheduled a community AMA today to address any questions or concerns from its users. As the company moves from exchange services to a focus on Cashlink, it marks a significant shift in its business strategy, reflecting the changing needs of the blockchain and Web3 community.

Image Source: Shutterstock