Binance Launches Social Payments App ‘Bundle’ in Africa

Binance Launches Social Payments App ‘Bundle’ in Africa

Binance, the world’s most popular crypto company, has rolled out its social payments application named “Bundle” in Africa.

Through the app, users can send and receive cash. They can also buy, sell and store cryptocurrencies.

The app will first support the fiat currency Nigeria naira (NGN), as well as cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB).

Binance stated that the app will support other fiat currencies in the coming period. The application can handle transactions through cards and bank transfers.

Commenting on the move, Bundle founder Yele Bademosi said:

“We built Bundle with the digitally native African user in mind. They are social, online, and connected across geographical boundaries. They prefer their financial services delivered digitally via mobile apps as opposed to visiting brick and mortar bank branches.”

Bundle intends to foray into more than 30 African countries by the end of 2020. In addition, it seeks to expand in a “super-app” which would be widely used in Africa and the whole world. 

Dharma launches Twitter-based payments system

It seems that social payments are growing significantly in the crypto industry. Yesterday, crypto-banking solution Dharma has launched a new system allowing Twitter users to accept payments in US dollars.

The move aims to help clients receive alerts and micropayments for free.

The platform said the funds deposited in the wallet receive annual percentage rate of 3.6 percent.

The company indicated that clients should first deposit funds into their Dharma wallet to transfer money to a Twitter user.

To designate the funds, a user should enter the Twitter handle of the recipient in the app. This will trigger an automated tweet informing the recipient that he got money.

There is a link in the tweet which the recipients should click to create a Dharma account in order to accept the payment.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.