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Injective and Jambo partner to bring mobile-based DeFi to millions in emerging markets

Injective and Jambo partner to bring mobile-based DeFi to millions in emerging markets

  • Injective and Web3 mobile firm Jambo will partner to promote DeFi in Africa, Latin America and Southeast Asia.
  • The collaboration seeks to make it easy for millions to access dApps via the Jambophone.

Injective and Web3 mobile infrastructure platform Jambo have announced a partnership that will see the two companies collaborate to bring blockchain-powered financial solutions to millions of users in emerging markets.

The partnership will tap into JamboPhone, a Web3 Android 13 smartphone, to introduce users across Africa, Latin America and Southeast Asia to Injective’s DeFi ecosystem.

“Combining Injective’s robust infrastructure stack with Jambo’s mature Web3 mobile technology will enable us to efficiently scale DeFi to the point where it can tangibly help billions of people overcome socioeconomic hurdles,” Mirza Uddin, head of business at Injective Labs said in an announcement.

As part of the collaboration, users in these emerging markets will access multiple decentralised applications (dApps) in the Injective ecosystem via JamboPlay dApp store. One of the first platforms to be available will be Ninji, a native Injective wallet.

“We want to bring emerging markets on-chain,” James Zhang, co-founder of Jambo, noted.

Web3 phone for DeFi adoption

JamboPhone is currently priced at $99 and has been sold in more than 100 countries. The Web3 phone features preloaded applications that include DeFi, gaming, and Web3 infrastructure.

The partnership continues Jambo’s commitment to promoting the crypto adoption space in Africa and other emerging markets. It’s also part of Injective’s mission, with the blockchain platform offering an interoperable layer 1 network optimised for Web3.

Injective, incubated by Binance, counts Pantera, Jump Crypto and Mark Cuban among its backers. The native token INJ is currently the 45th-largest cryptocurrency by market cap.

Following today’s partnership announcement, INJ price has surged more than 12% in 24 hours to reach highs of $28.47.

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