The Nigerian social payments platform Bundle said on July 20 it was shutting down its crypto exchange services business and will now focus on its peer-to-peer platform known as Cashlink. Bundle said users must withdraw or convert their digital assets to the stablecoin tether on or before Aug. 30.
Bundle Says Transition Period Is to Last 60 Days
The Nigerian social payments platform, Bundle, said on July 20 that it was ceasing operations of its crypto exchange services and will now focus on the peer-to-peer platform known as Cashlink. In a statement, Bundle said the decision to shut down exchange services follows “shareholders’ decision to restructure the business to focus on Cashlink.”
Founded by Yele Bademosi, Bundle started operations in 2020 and at the time of the announcement the platform had 50,000 monthly active users and a monthly volume of $50 million. Cashlink, on the other hand, is reported to have recorded over 3 million transactions in under two years.
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