Jambo expands to bolster financial inclusion in emerging markets

Jambo, a Web3 mobile infrastructure startup behind the JamboPhone, has officially expanded to Solana to empower the unbanked across emerging markets.

The startup has partnered with stablecoin issuer Tether to accelerate this goal, according to an announcement on Tuesday.

As part of their collaboration, Jambo, Solana and Tether will work together to offer access to several solutions designed to empower JamboPhone users. These include cryptocurrency and stablecoin payment rails, alternative banking and earning opportunities for people Africa, Southeast Asia and Latin America.

“Bringing Jambo to Solana and Tether allows us to provide a comprehensive solution that addresses the unique needs of these regions,” Jambo co-founder James Zhang said.

USDT rewards

This partnership will allow Jambo to integrate USDT-SPL token, with the stablecoin as the platform’s primary reward mechanism. Users who engage in Jambo initiatives via the Jambo App on JamboPhone will earn rewards in USDT.

Tasks include educational quests and promotional tasks that Jambo and its partners offer through the $99 phone.

Overall, Jambo is looking to tap into key aspects of its phone, Solana’s blockchain and Tether’s traction. JamboPhone offers affordability, Solana network boasts speed and efficiency while Tether is the world’s largest and most widely adopted stablecoin.

Combining these features with the growing adoption of crypto in emerging markets will see people in these regions benefit from greater financial inclusion, Jambo said. 

Jambo announced its JamboPhone in February this year, revealing that the phone’s launch followed a partnership with Aptos Foundation. 

The tech startup billed this smartphone as a potential rival to Solana‘s Saga, which sold out in December 2023 before pre-orders for a new Saga opened in January 2024.