Bundle Africa, a social trading platform for cash and crypto, on the 23rd of April 2022, celebrated its second year anniversary, with the launch of a web application to give its users more accessibility to crypto.
Bundle said it launched the first version of its mobile app to boost customer experience, adding that that it was developed over the years as one of the easiest crypto trading platforms in Africa. Starting with only three assets at its initial launch, the firm has now grown to over 80 assets and over 700,000 users across Nigeria and Ghana.
Despite regulatory pushback, Bundle has been able to cater to the needs of its user base through the integration of Cashlink, a P2P payments platform, which has served as a gateway for crypto to cash transfers. With over a million transactions within its first seven months, the success of Cashlink can be attributed to the escrow system, which mitigates fraud from either side of the transaction. With the aim of helping users mitigate loss during a bear crypto market, the firm said it built simple tools to help users by releasing Bundle Leveraged Token (BLVTs) series that gives users the ability to hold leverage on a cryptocurrency that can either multiply the loss or profit on an asset.
CEO at Bundle Africa, Emmanuel Babalola, said: “To promote the wider adoption of cryptocurrencies and further set the minds of people at ease, trading should be as easy and convenient as possible for all people. This means that crypto services should be offered on multiple platforms with all users in mind and not just some. As Bundle continues to grow, the need to evolve into its original mission becomes pertinent — a social finance app making crypto accessible to everyone. Bundle will be expanding across the continent this quarter, which signifies the first step in the right direction, alongside implementations to pivot into a social finance product.”
On the issue of the multiple scam accounts across social media platforms, Babalola explained that they would be working hand-in-hand with their risk and compliance team to remove these phishing accounts. “We are also set to release a 2FA security feature to further protect its users. Bundle users are implored to ensure that any dealings on Twitter and Instagram are with their official handles. Nobody will ask you to click on any link or share your One Time Password (OTP) with them.