Bitget , a major crypto exchange, has joined forces with Jambo to fund a telecom satellite launch aimed at improving decentralized access in emerging markets. Jambo plans to raise $5 million through a token sale on Bitget's LaunchX platform to expand its blockchain ecosystem and support this ambitious project. The partnership is expected to boost Bitget's visibility while enabling Jambo to integrate its blockchain communication hardware. Jambo, launched in 2022 and known as "the WeChat of Africa," has already made waves by introducing a blockchain-based phone in collaboration with Aptos. Now, it’s aiming for even greater heights with this satellite initiative. Bitget CEO Gracy Chen highlighted the synergy between the two companies, saying, "Jambo’s vision of connecting the world through blockchain and mobile innovation aligns perfectly with our goal of supporting transformative projects. By enabling Jambo’s satellite program through LaunchX, we hope to help bridge the digital divide and unlock the potential of Web3 in underserved regions." Jambo’s native token, ‘J,’ will play a central role in its DeFi ecosystem and is set to launch via Bitget's LaunchX. CEO James Zhang explained that the satellite launch will help vertically integrate Jambo’s hardware, opening up new possibilities for its ecosystem. This project could also help Bitget gain significant attention. Although Bitget’s BGB token hit an all-time high in December, it faced notable corrections soon after. In response, the company burned 800 million tokens to stabilize and boost its value. However, the token's growth has remained relatively flat. A high-profile initiative like this satellite launch could attract positive attention and goodwill toward Bitget. Bitget has also expressed interest in expanding globally, with plans to use Lithuania as a hub for MiCA compliance in the EU. These efforts may drive long-term demand for the BGB token. Jambo aims to raise $5 million through this token sale, but satellite launches are costly. Even the cheapest options typically exceed $10 million, suggesting that additional funding may be necessary. Jambo has not yet disclosed details about overcoming these financial challenges but may be exploring other opportunities to meet its goals. This collaboration marks a significant step toward innovation in blockchain-powered communication and decentralized services, showing how strategic partnerships can help address technological gaps in emerging markets.
ETP: Exchange-traded patience
