Jambo, a startup known for its JamboPhone, has expanded its operations to Solana in order to help those without access to traditional banking services in emerging markets. The company has teamed up with Tether, a stablecoin issuer, to make this happen. Together, Jambo, Solana, and Tether will be providing various solutions to empower JamboPhone users in regions like Africa, Southeast Asia, and Latin America.
One of the key features of this partnership is the integration of the USDT-SPL token as the primary reward mechanism for JamboPhone users. By participating in educational quests and promotional tasks through the Jambo App on the JamboPhone, users will be able to earn rewards in USDT. This initiative aims to leverage the affordability of the JamboPhone, the speed and efficiency of the Solana network, and the widespread adoption of Tether to promote financial inclusion in these underserved regions.
In addition to its collaboration with Tether, Jambo had previously announced the launch of the JamboPhone in February of this year, following a partnership with the Aptos Foundation. This smartphone is seen as a potential competitor to Solana’s Saga, which experienced high demand and sold out in December 2023. Pre-orders for a new Saga model opened in January 2024.
By bringing together the innovative features of the JamboPhone, the speed of the Solana blockchain, and the stability of Tether, Jambo aims to provide a holistic solution that meets the unique needs of users in emerging markets. With the increasing adoption of cryptocurrencies in these regions, the partnership between Jambo, Solana, and Tether is expected to drive greater financial inclusion and access to alternative banking and earning opportunities for many individuals who were previously excluded from the traditional financial system.