Jambo Expands with Solana and Tether Partnership

Jambo Expands to Solana Blockchain with Tether Backing

SOL crypto is back in the spotlight with a significant partnership aimed at enhancing financial inclusion in emerging markets. In a recent announcement, Solana co-founder Anatoly Yakovenko praised Jambo’s expansion onto the blockchain, backed by Tether, highlighting its potential to empower the unbanked through blockchain mobile technology.

Highlights

• Jambo partners with Solana blockchain and Tether to provide stablecoin and crypto payment options.
• JamboPhone users can earn USDT rewards for engaging in various tasks.
• Initiative focuses on financial inclusion in Southeast Asia, Africa, and Latin America.

Jambo, a key player in Web3 mobile infrastructure backed by Paradigm, has announced its expansion to the Solana blockchain. Teaming up with Tether, Jambo aims to introduce blockchain-based financial and educational solutions to underserved markets.

The initiative targets regions where traditional financial services are lacking, aiming to offer stablecoin and crypto payment options, alternative banking access, and global earning opportunities.

James Zhang, Co-founder of Jambo, emphasized the significance of this expansion, stating that it addresses the unique needs of emerging markets. The integration of Solana’s SPL USDT stablecoin plays a crucial role, serving as the primary reward mechanism for user engagement through the Jambo App on the affordable $99 JamboPhone.

Lily Liu, President of the SOL Foundation, highlighted blockchain’s role in fostering financial access, noting its potential impact on millions of individuals with internet connectivity. Together with Jambo, they seek to make self-custody, financial opportunity, and educational resources accessible.

Boosting Adoption Via Local Engagement

To drive local adoption, Jambo will collaborate with local Superteams, consisting of Web3 enthusiasts passionate about Solana and blockchain technology. These teams will focus on educating communities and developing local applications, promoting blockchain understanding and utilization.

This grassroots approach aims to leverage the affordability of JamboPhone, the efficiency of Solana, and the stability of Tether’s widely adopted stablecoin to address regional challenges effectively.

The strategy aims to provide access to stablecoin and crypto payment rails, alternative banking solutions, and global earning opportunities, ultimately enhancing financial inclusion and empowering individuals in emerging markets.

Following the announcement, SOL price increased by nearly 2% to $155.65, with trading volume rising 38% to $2.89 billion. SOL Futures Open Interest also surged by 2%, reflecting growing market interest in the cryptocurrency.