Bundle Africa, an African cryptocurrency exchange and social payment app, is shutting down after three years of operation as of July 2023. The closure is part of a shareholder decision to restructure the business and focus on its peer-to-peer platform, Cashlink, which will continue independently. As a result, the entire team supporting the Bundle exchange will be phased out in batches. While the exact number of layoffs was not specified, the shutdown effectively means the entire workforce dedicated to the Bundle app is affected. The company, which had become a leading indigenous crypto app in Nigeria with over a million downloads, cited the need to navigate uncertain regulatory conditions as a key factor in its pivot. Users have been given 60 days to withdraw their assets.
