Bitget Announces $5 Million Fundraising For Jambo’s Satellite Initiative on LaunchX

Bitget has announced an upcoming event on LaunchX to support Jambo.
Jambo plans to launch a satellite initiative for its smartphone project.
The upcoming LaunchX fundraising program targets $5 million in token sales.

Cryptocurrency exchange Bitget has announced an upcoming event on LaunchX, its premier token launch platform. The event will support Jambo, a leading on-chain mobile network. Jambo plans to launch a satellite program to connect a global network of JamboPhones and expand access to decentralized services. Bitget aims to raise $5 million in token sales to support Jambo’s satellite initiative.

Known for its $99 crypto-native smartphone brand, Jambo has carved out a niche in the blockchain ecosystem. The company sold 700,000 JamboPhones in 2024. This launched it to the forefront of bringing Web3 technologies to emerging markets. According to the firm, the upcoming satellite program will provide borderless data access to JamboPhone users globally.

Web3 solutions on smartphones are a growing trend in the blockchain industry. They’re not yet as popular as traditional phone networks, but analysts see Web3-enabled smartphones as a path toward wider adoption of emerging technologies. They provide easy access to blockchain solutions, allowing users to engage with the industry more quickly.

JamboPhone users can engage in decentralized finance (DeFi), gaming, and earning opportunities. The firm believes the upcoming satellite program will help the phones scale. This will ensure uninterrupted user data access, even in locations with limited internet access.

Bitget Supports Jambo’s Satellite Program

The upcoming exercise on Bitget’s LaunchX will allow users to access Jambo’s project tokens early. They can also contribute to advancing the company’s next development phase. Bitget’s CEO, Gracy Chen, says Jambo’s ambition aligns with her company’s plan to support innovative projects. She noted that hosting the program on LaunchX will empower Jambo’s efforts. This includes bridging the digital divide and unlocking the potential of Web3 for emerging markets.

Jambo’s CEO, James Zhang, stated that the satellite program will improve JamboPhone’s competitive edge. It will also create new possibilities for blockchain-based mobile applications. This ranges from decentralized validators to peer-to-peer networking. According to Zhang, owning a connectivity infrastructure will allow Jambo to ensure constant connectivity for its users to the decentralized economy.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.