Tuesday, July 1, 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

Apple WWDC 2025
Events

Apple Unveils iOS 26, macOS Tahoe, and AI Innovations at WWDC 2025

by Tech Gist Africa
06/15/2025
0

Apple kicked off its annual Worldwide Developers Conference (WWDC) with a series of announcements highlighting significant advancements in software design...

Read more
Zero Carbon Charge South Africa

Zero Carbon Charge, a South African startup secures US$5.6 Million investment

06/15/2025
Kera Senegal

KERA, a Senegalese E-Health Startup Secures $10 Million Funding

06/15/2025
Nile South Africa

Nile, a South African Agri-Tech Startup Secures $11.3 Million in a funding round

06/15/2025
DHL Group

DHL Group to Invest $575 Million in Healthcare and Logistics Expansion Across Africa and the Middle East

06/15/2025
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

Blockchain

The Role of Blockchain in Enhancing Africa’s Financial Systems and Security

by Tech Gist Africa
06/30/2025
0

...

Artificial Intelligence

How Artificial Intelligence is Transforming Industries Across Africa

by Tech Gist Africa
06/23/2025
0

...

Africa startups

Kenyan Startups Invited to Apply for €100,000 develoPPP Ventures Grant

by Tech Gist Africa
06/15/2025
0

...

Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

by Tech Gist Africa
06/15/2025
0

...

Telegram Grok

Telegram Scores $300 Million xAI Deal to Integrate Grok Across One Billion Users

by Tech Gist Africa
06/15/2025
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.