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Nigeria’s Xend finance celebrates one-year mainnet launch as over 50k users adopt platform

TL;DR Breakdown

  • Xend Finance celebrates one year anniversary.
  • Adds several innovative, unique features to its platform.

Xend Finance, a Nigerian crypto bank for those in underserved regions, announced that over 50-thousand now use their savings platform. The company passed 10-thousand users at the end of January, following the release of their free mobile app on Android and Apple devices in December.

Xend Finance is currently conducting University roadshow events across Nigeria, including in Enugu, Lagos, and other major cities in the country, while featuring over 50 billboards in the country.

“We spent our first year pushing code and ensuring our platform is secure through numerous audits, while developing a product that always gives our users the best interest rates across multiple chains,” said Ugochukwu Aronu, CEO of Xend Finance. “Now that we have turned our attention to onboarding users, we have seen a tremendous response from first-time crypto purchasers and savers. They are responding to market conditions where their native currency is constantly devalued and suffering from inflation.”

Grand upgrades Xend finance brought to its crypto platform

The Xend Mobile App has some of the highest reviews on iOS and Android for new blockchain applications, serving as a DeFi wallet, while also allowing for peer-to-peer fiat-to-crypto on-ramp and off-ramp.

Members can convert their local fiat currency to stablecoins and U.S. Dollars to access the highest APYs across Binance Smart Chain (BSC) and Polygon by staking, or locking up their cryptocurrency for a period of time. All of the features available on Xend Finance desktop version are available on the mobile app, including storing, sending, and receiving crypto assets, high-interest savings plans, and decentralized insurance.

“I just wanted to say congratulations to Xend Finance on passing 50-thousand users on their platform and happy one year anniversary,” said Sandeep Nailwal, Co-Founder of Polygon. “As an early investor, I am proud of the work they are doing in Africa and beyond. Polygon is here to support their efforts in underserved regions around the world.”

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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