Binance crypto exchange has announced the launch of an African-focused social payment app Bundle, for cash and cryptocurrencies. Bundle allows users to request, send and receive cash and crypto from friends and family. The project is envisioned to evolve into a super-app with a native digital wallet that supports crypto and cash. It is the hope of the developers that Bundle becomes an ultimate utility in the daily life of Africans and the world at large.

According to the announcement, users can purchase, trade and store cryptocurrencies such as BNB, BTC and ETH. The only local fiat that is currently supported by the app is the Nigerian Naira (NGN). However, the announcement noted that, support for many more fiat currencies will be made available in the coming weeks. Bundle plans to support more than 30 African countries by the end of 2020, to create a simplified fiat on/off ramp for crypto on the continent.

Bundle was founded by Yele Bademosi, a former director at Binance Labs. The project aims to drive crypto adoption in Africa, by making its adoption on the continent more fun and easy to use. Although the project was incubated within the Binance ecosystem, it operates as an independent entity from Binance. The announcement noted that, Bundle raised $450,000 from Binance in September 2019 in a pre-seed fundraising.

According to Bademosi, Bundle was built with the digitally native African user in mind. According to him, Africans are social, online and connected across geographical boundaries. He claimed they prefer their financial services delivered digitally through mobile apps to visiting brick and mortar banks.

The Bundle founder said the idea to build a mobile wallet that supports cash and crypto came because they wanted to make crypto usage in Africa feel like just another digital transaction done on a mobile app.