Jambo, the largest web3 mobile infrastructure bringing emerging markets on-chain, announced that it’s expanding to the Solana blockchain along with Tether to offerblockchain-enabled financial and educational technologies that cater to emerging markets.
Central to this is the
JamboPhone, a $99 web3 smartphone that has been powerful in onboarding all types
of users on-chain in a mobile-first way. Combined with the Solana blockchain’s
high throughput capabilities and Tether’s dominant stablecoin, USDT, access to
web3 financial and educational products will be democratized to those who need
them most in Southeast Asia, Africa, and Latin America.
Introducing the JamboPhone Priced
at $99 and already sold in over 120 countries, the JamboPhone is targeted
towards Gen Z consumers in emerging markets as their portal to the best digital
products and opportunities globally.
Users can engage with the global
economy by utilizing the preloaded Jambo Ecosystem applications featuring DeFi,
gaming, and web3 infrastructure applications. The JamboPhone aims to address
some of the most challenging issues faced by emerging markets, such as a large
unbanked population and limited access to smartphones. Users can purchase the
JamboPhone with Solana Pay on JamboPhone.xyz.
The Jambo App: Empowering Users
The smartphone is equipped with
the JamboApp, a comprehensive web3 platform that offers users a range of
services including decentralized finance, gaming, and educational content, all
designed with the emerging market user in mind. The JamboApp includes the
JamboWallet, a non-custodial multichain
wallet which includes support for
Solana tokens and USDT. Jambo will be giving out rewards primarily in USDT,
leveraging its broad acceptance and stability in emerging markets. Users will
be able to complete quests sponsored by Jambo and Jambo ecosystem partners,
ranging from educational initiatives to promotional tasks, with rewards now
distributed primarily using SPL USDT. This initiative underscores
Jambo, Solana, and Tether’s role
as pioneers in bridging the digital divide, aiming to democratize access to
digital financial tools and providing users with earning opportunities in
emerging markets.
Leveraging Local Solana Communities Additionally, Jambo will engage local Superteams to accelerate web3 adoption. Superteam is a global community of web3 builders who are passionate about Solana. Their mission is to help web3 talent learn, earn and connect with the Solana ecosystem. These teams, composed of local experts and enthusiasts, will play a pivotal role in educating communities, fostering local development, and driving grassroots initiatives that ensure sustainable growth within the web3 ecosystem.
“Back when I was building
earn.com in 2017, our vision was to build a product ‘where there’s a phone, there’s
a job.’ Alice, James, and the Jambo team have realized that vision by
developing web3 mobile infrastructure bringing financial access to emerging
markets,” said Lily Liu, President of the Solana Foundation. “Jambo offers a
gateway to web3 that is accessible to nearly anyone in the world, while Solana
enables financial access for nearly anyone with an internet connection.
Together, we are committed to making self-custody, financial opportunity, and
educational resources accessible to millions.”
Why Emerging Markets
Emerging markets face their own
unique set of economic challenges that Solana and Tether can address with their
blockchain and stablecoin solutions. In emerging markets, the use of USDT
(Tether) significantly surpasses that of other stablecoins, with over 34.2
million unique wallets utilizing USDT as of April 2024.
This broad user base highlights
the widespread trust and adoption of Tether in these regions. With Jambo’s
game-changing smartphone, Solana’s fast transaction processing, low transaction
fees, and Tether’s robust and widely-used stablecoin, users now have access to
stablecoin and crypto payment rails, alternative banking access, and global
earnings opportunities.
“We want to bring emerging
markets on-chain,” said James Zhang, Co-founder of Jambo. “Bringing Jambo to
Solana and Tether allows us to provide a comprehensive solution that addresses
the unique needs of these regions.”
“Emerging markets stand out as
promising grounds for financial inclusion. Their demand for tools like USDT
fuels our dedication to shaping a brighter financial future for users in these
regions.” said Paolo Arodino, CEO, Tether. “By providing affordable access to
web3 technologies through the JamboPhone and leveraging the power of the Solana
blockchain, Jambo is empowering users in these regions with the tools they need
to participate in the global digital economy. The integration of SPL USDT as a
reward mechanism further strengthens this initiative, offering users a stable
and secure digital asset.”
Learn more about the latest from
Jambo on X and purchase your JamboPhone
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