Bundle, a Nigerian social payments app, has announced closing its cryptocurrency exchange division.
As part of the shareholders’ decision to restructure the firm to focus on Cashlink, Bundle announced in a statement posted on the company blog on July 20 that it would stop operating its exchange services.
The company explained in the statement that the decision was made by its shareholders due to the observed expansion of the Web3 and blockchain communities and the requirement to concentrate on payment solutions that cater to the ecosystem’s needs.
It was revealed that customers who don’t have Nigerian naira or other fiat on Bundle wouldn’t be able to register with the app, deposit assets into their wallets platform, and also swap assets (apart from Tether (USDT $1.00), or withdraw with Cashlink.
The message advises all Bundle users to remove their assets from the app by September 12, 2023, at the latest. However, the business outlined the procedures needed for its users in Nigeria, Ghana, Kenya, and other francophone-speaking nations to withdraw their assets properly.
Users in these areas can transfer their cash from the platform to any exchange they choose. Nigerian customers have access to Cashlink for naira withdrawals, and P2P express for bank account transfers.
Use the given link to withdraw if your balance is less than $10. LazerPay, a cryptocurrency payment firm in Nigeria, halted operations in April and put its intellectual property up for auction.
