Jambo, the foremost web3 mobile infrastructure provider focused on bringing emerging markets on-chain, has announced its expansion to the Solana blockchain in partnership with Tether. This initiative aims to deliver blockchain-enabled financial and educational technologies tailored to the needs of users in Southeast Asia, Africa, and Latin America.
JamboPhone: An Affordable Gateway to Web3
Central to Jambo’s strategy is the JamboPhone, a $99 web3 smartphone designed to onboard a diverse range of users to blockchain technology in a mobile-first manner. By leveraging Solana’s high throughput capabilities and Tether’s widely accepted stablecoin, USDT, Jambo aims to democratize access to web3 financial and educational products for those who need them most.
Priced competitively at $99 and already sold in over 120 countries, the JamboPhone targets Gen Z consumers in emerging markets, offering them a portal to global digital products and opportunities. Users can engage with the global economy through preloaded Jambo Ecosystem applications, which include decentralized finance (DeFi), gaming, and other web3 infrastructure applications. The JamboPhone addresses significant challenges in emerging markets, such as a large unbanked population and limited access to affordable smartphones. The device can be purchased with SolanaPay on JamboPhone.xyz.
The JamboPhone is equipped with the JamboApp, a comprehensive web3 platform providing a range of services tailored for emerging market users. These services include decentralized finance, gaming, and educational content. The JamboApp features the JamboWallet, a non-custodial multichain wallet supporting Solana tokens and USDT. To incentivize usage, Jambo plans to distribute rewards primarily in USDT, capitalizing on its broad acceptance and stability in emerging markets. Users will be able to complete various quests sponsored by Jambo and its ecosystem partners, from educational initiatives to promotional tasks, with rewards distributed in SPL USDT.
Driving Web3 Adoption with Local Superteams
To accelerate web3 adoption, Jambo will engage local Superteams, a global community of web3 builders passionate about Solana. These teams aim to help web3 talent learn, earn, and connect with the Solana ecosystem. Composed of local experts and enthusiasts, Superteams will play a crucial role in educating communities, fostering local development, and driving grassroots initiatives to ensure sustainable growth within the web3 ecosystem.
Reflecting on Jambo’s progress, Lily Liu, President of the Solana Foundation, noted that the development of web3 mobile infrastructure by the Jambo team aligns with the vision of making financial access available to emerging markets. She emphasized that Jambo offers a gateway to web3 accessible to nearly anyone globally, while Solana enables financial access for those with an internet connection. Both organizations are committed to making self-custody, financial opportunity, and educational resources available to millions.
Addressing Unique Economic Challenges with Blockchain Solutions
Emerging markets face unique economic challenges that Solana and Tether aim to address through their blockchain and stablecoin solutions. In these regions, the use of USDT significantly surpasses that of other stablecoins, with over 34.2 million unique wallets utilizing USDT as of April 2024. This widespread trust and adoption of Tether highlight its significance in these areas.
The combination of Jambo’s innovative smartphone, Solana’s fast transaction processing and low fees, and Tether’s robust and widely-used stablecoin provides users with access to stablecoin and crypto payment rails, alternative banking options, and global earning opportunities.
James Zhang, Co-founder of Jambo, expressed the company’s intention to bring emerging markets on-chain. By integrating with Solana and Tether, Jambo aims to offer a comprehensive solution that addresses the unique needs of these regions.
Paolo Ardoino, CEO of Tether, pointed out that emerging markets represent promising grounds for financial inclusion. He emphasized that the demand for tools like USDT fuels their dedication to shaping a brighter financial future for users in these regions. By providing affordable access to web3 technologies through the JamboPhone and leveraging Solana’s capabilities, Jambo empowers users with the tools needed 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.
Conclusion
Jambo’s expansion to the Solana blockchain in collaboration with Tether represents a significant step towards bridging the financial and educational gaps in emerging markets. Through the affordable JamboPhone and its comprehensive suite of web3 applications, Jambo is set to empower millions with access to decentralized finance, gaming, and educational content. This initiative underscores the roles of Jambo, Solana, and Tether as pioneers in democratizing access to digital financial tools and creating new earning opportunities for users in underserved regions.