Web3 Mobile Infrastructure Startup Jambo Expands to Solana to Empower the Unbanked in Emerging Markets

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

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

To accelerate this goal, the startup has partnered with stablecoin issuer Tether, the company announced Tuesday.

As part of the collaboration, Jambo, Solana and Tether will work to provide access to a range of solutions designed to empower JamboPhone users. These include crypto and stablecoin payment rails, as well as alternative banking and earning opportunities for people in 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,” said Jambo co-founder James Zhang.

USDT rewardsThis partnership will see Jambo integrate the USDT-SPL token, with the stablecoin set to become the platform’s primary reward mechanism. Users who engage in Jambo initiatives through the Jambo App on JamboPhone will earn rewards in USDT.

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

Overall, Jambo is aiming to combine key aspects of its phone, Solana’s blockchain and Tether’s traction. The JamboPhone offers affordability, while the Solana network is known for its speed and efficiency and 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 unveiled its JamboPhone in February this year, revealing that the phone’s launch followed a partnership with the Aptos Foundation.

The tech startup touted the 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.

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