Bitget and Jambo Collaborate to Fund Telecom Satellite Launch
Bitget is collaborating with Jambo to fund a telecom satellite launch aimed at enhancing decentralized access in emerging markets. Jambo plans to raise $5 million via a token sale on Bitget's LaunchX platform for this project.
- The partnership aims to increase Bitget's visibility and enable Jambo to integrate its blockchain communication hardware.
- Jambo, known as "the WeChat of Africa," has previously launched a blockchain-based phone in collaboration with Aptos.
- Bitget CEO Gracy Chen stated that the collaboration aligns with their goal of supporting transformative projects and bridging the digital divide.
- Jambo's native token, ‘J,’ will be central to its DeFi ecosystem and is set to launch through Bitget's LaunchX.
- Despite an all-time high for Bitget’s BGB token in December, value corrections followed, leading to the burn of 800 million tokens to stabilize its price.
- Bitget is also looking to expand globally, considering Lithuania as a hub for MiCA compliance in the EU.
- Jambo's satellite launch could exceed $10 million, indicating potential additional funding needs.
- This collaboration signifies a move towards innovation in blockchain communication and addressing technological gaps in emerging markets.