Nigerian social payments app Bundle has announced that it is closing its cryptocurrency exchange arm.
The company said it would shut down its exchange services as part of shareholders’ decision to restructure the business to focus on Cashlink. According to a July 20 statement posted on the company blog, Bundle stated that it will cease operations of its exchange services as part of a shareholder’s decision to restructure the business to focus on Cashlink.
Payment app Bundle is shutting down
The company said in a statement that the decision was a result of the growth of the Web3 and blockchain community and the need to focus on payment solutions that meet the needs of the ecosystem. It has been confirmed that users cannot sign up for the Bundle, deposit assets into Bundle wallets, or exchange assets in Bundle wallets.
According to the statement, all Bundle users are advised to withdraw their assets from the app on or before September 12, 2023. Furthermore, the company outlined the steps necessary for its users in Nigeria, Ghana, Kenya and other countries to successfully withdraw their assets.
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