According to an announcement published on Bundle’s blog, the exchange will be discontinued as part of a September shareholder decision to restructure the business. The Bundle team assures that in this way it tries to eliminate duplication of functions of another payment solution, Cashlink.
“Over the past three years, the number of transactions by active Bundle users through the Cashlink exchange network has exceeded three million, with monthly transaction volume approaching $50 million. For this reason, we are discontinuing Bundle’s own exchange services and will focus on expanding Cashlink’s services as the primary gateway for crypto payments,” Bundle said in a statement.
The Bundle team urged users to withdraw assets from the app or transfer to a bank account via P2P Express no later than Sept. 12.
Earlier, commenting on the allegations by the Securities and Exchange Commission (SEC) of Nigeria, the administration of cryptocurrency exchange Binance said it is not and has never had an affiliate relationship with Binance Nigeria, an exchange offering its crypto services to residents of the country.