Xend Finance Launches Africa's First Crypto Banking App

January 6, 2022
2 min read

Xend Finance, a fast-growing startup that uses decentralized finance (DeFi) to solve currency devaluation and inflation, has launched the first global Crypto banking app out of Africa. The blockchain-based application allows users to save in stable currencies, in order to hedge against inflation and devaluation. The app is now available on all iOS and Android stores. 

The launch of the Xend Finance app officially ushers us into the blockchain banking era. Seeing the continuous migration from traditional banking to digital banking, Xend finance brings us into a whole new terrain with crypto banking. The absolutely interesting part about this is that it solves a real and experienced problem for the people. 

Looking at the economic climate of Nigeria, we have experienced a massive rise in inflation. This means that the value of the Naira has reduced drastically in this free-fall economy that we have been plunged into. 

Given this reality, the Xend Finance app could not have come at a better time. 

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What does the Xend Finance Crypto Banking App do? 

Simply put, the Xend Finance app helps users save in dollars and earn up to 15% annual compounding interest.

With this crypto banking app, users can convert their local currency (Naira) to dollars (BUSD) and save. 

The app provides two savings plans - Fixed and Flexible Savings. 

  1. Fixed Savings: 

With the fixed savings plan, users can lock their savings for a period of time and earn up to 15% compounding interest on their savings. During the duration of the fixed savings, users cannot withdraw from this plan until the maturity date. Fixed savings users also earn additional XEND tokens, which is a crypto coin traded on major crypto exchanges. 

  1. Flexible Savings: 

On the flexible savings plan, users can save on this plan and earn daily interests. The flexible savings plan allows users to be able to withdraw at any time. These withdrawals do not affect the interest earned on the savings plan. 

The best thing about Xend Finance is how easy and seamless it is to save on the platform. You can literally sign up, fund your wallet and start saving immediately. Xend Finance also gives a $2 referral bonus when new users sign up using your referral code/link. The person that is referred is also not left out, as you get $1 to start your saving experience. 

How do you get started? 

To get started, simply go to your Apple App Store or Google PlayStore to download the app. 

Click here to download on iOS - https://apps.apple.com/us/app/xend-finance/id1587050825

Click here to download on Andriod - https://play.google.com/store/apps/details?id=com.xendmobile

Sign up and begin saving your way out of inflation. 

This article is a Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

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