Tuesday, July 22, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Cryptocurrency

Xend Finance becomes the first DeFi protocol to launch from the African continent, using the Binance Smart Chain,

Tech Gist Africa by Tech Gist Africa
03/24/2021
in Cryptocurrency, Fintech, Made In Africa, News, Startups
0 0
0
Xend Finance tech gist africa

Xend Finance tech gist africa

0
SHARES
Share on FacebookShare on Twitter

Xend Finance a Nigeria-based decentralized finance (DeFi) platform has launched its mainnet, allowing users to pool capital for the creation of their own credit unions.

According to a press release by the company, Xend Finance is a decentralized credit union protocol designed to “optimize” and “add value to the core operations” of credit unions.

The company is backed by Binance, Google Launchpad, and others.

According to a press release by the company, it’s also the first DeFi protocol to launch from the African continent using the Binance Smart Chain (BSC) network, with the aim of making financial markets more available to underserved populations.

“The issue for people of many African countries is that their currency valuations fluctuate wildly, sometimes devaluing significantly in comparison to other regions,” CEO Ugochukwu Aronu said.

“People can channel their savings into stable currencies using our platform and Binance Smart Chain, without worrying about their money depreciating overnight.”

Users may receive an annual percentage of their savings in personal or credit union accounts provided by the protocol.

Interest can be obtained by converting cryptocurrency or fiat currency to stablecoins for staking – committing assets for a period of time to engage in transaction validation on a “proof-of-stake” network.

Coupled with the launch of its mainnet, the platform will launch its $XEND token via a token generation event run by automated market maker Balancer.

Read More on Tech Gist Africa:

Afriex raises $1.2 million in a seed round to expand its payments and remittances network throughout Africa

Termii, a Nigerian CPaaS startup, has raised $1.4 million in seed funding 

 

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

telecommunications
Mobile networks

Cameroon Fines MTN and Orange $4.6 Million for Poor Service Delivery

by Tech Gist Africa
07/11/2025
0

Cameroon’s telecom regulator has issued fines totaling approximately 2.6 billion CFA francs (around US $4.6 million) to MTN Cameroon and Orange...

Read more
Cerebrium South Africa

Cerebrium, a South African AI startup raises $8.5 million seed funding

07/11/2025
Aria Ventures Egypt

Aria Ventures Launches $1 Million Fund to Boost Deep‑Tech Investment in Egypt

07/10/2025
BuuPass QuickBus Kenya

BuuPass, a Kenyan mobility startup has secured strategic funding from Yango Ventures

07/10/2025
Complete Farmer Ghana

Complete Farmer, a Ghana-based agritech company Raises $2.5 Million

07/09/2025
Next Post
complete farmer tech gist africa

Complete Farmer, a Ghanaian digital farming platform, has raised funding from Ingressive Capital also launches a new end-to-end platform to digitize Africa's agriculture value chains

Tesla cars bitcoin Elon musk

Elon Musk confirms that Tesla cars can now be purchased using Bitcoin

Bankly Tomilola Adejana

Bankly, a Nigerian fintech startup for the unbanked, has raised $2 million in seed funding to digitize the country's informal thrift savings scheme

No Result
View All Result

The Big 5

Africa Tech

Tech Diplomacy: How Africa is Leveraging Technology for International Relations and Development

by Tech Gist Africa
07/21/2025
0

...

Media and Entertainment

How African Technology is Changing the Face of Media, Entertainment, and Digital Content

by Tech Gist Africa
07/14/2025
0

...

Ecobank

Ecobank, Google Partner to Boost Financial Inclusion and Innovation Across Africa

by Tech Gist Africa
07/08/2025
0

...

AWIEF

AWIEF 2025 Awards Nominations Now Open to Celebrate Africa’s Top Women Entrepreneurs

by Tech Gist Africa
07/08/2025
0

...

Google for Startups Accelerator Africa

15 African AI startups Selected for Google for Startups Accelerator Africa

by Tech Gist Africa
07/08/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.