Xend Finance has become the first Crypto Bank in Africa. If that spooked you a little, don’t' worry, your confusion will be cleared shortly. The very first time you hear “Crypto Bank”, you would be forgiven if you become a little confused. This is because crypto is a digital asset so why would it need a physical bank? The reality is that this bank has nothing to do with a physical building but is a digital bank that functions the same way like the physical bank. Still unclear? Just read on.

Let’s give it another try. A Crypto Bank is similar to a regular bank, only that it uses cryptocurrencies and stable currencies to not just hold its customers' money but to protect that money from inflation. Inflation as it were, is the biggest enemy of the average Nigerian. Part of the services of a Crypto Bank is to allow customers to earn interest from saving in the recommended currency on the platform.

Having laid that foundation, Xend Finance as a crypto bank has remained one of the best news in the Nigerian technology space in the last year. Having successfully launched the bank and secured funding from both Google and Binance, Xend Finance is uniquely using blockchain technology in a unique way to solve one of the biggest problems in the Nigerian economic space.
How did the founder come up with this unique initiative? In an interview with the Nigerian Tribune, Ugochukwu Aronu, the CEO of Xend Finance explained why he started this very innovative adventure.

“People work hard for their money. They shouldn’t have to worry about their money being worthless every night they go to sleep. Xend Finance was formed from the need to protect the valuation of people’s savings and contributions who use Fiat currencies in unstable economies, along with giving their savings the ability to earn higher interest rates through cryptocurrencies.”

It is no longer news that t countries, especially in Africa suffer the menace of inflation, where the value of money consistently drops all through the year. That means that people who are saving for major projects will always have to save longer. This has put them in an almost perpetual saving cycle. How would you feel after looking forward to a major project, you discover that your initial budget can no longer cater to the demands of the project? Devastated right?
But with Xend Finance, you don’t have to be. Xend Finance knows that Nigerians needed to have access to a platform or a bank that saved not just the physical currency but also the value of the money. Xend Finance took up this challenge and has become the solace to many Nigerians and Africans at large.

As the first Crypto Bank in Africa, Xend Finance through the app allows people to send and receive money, save money and are working towards giving their customers the ability to save collectively on the platform.
Speaking about the platform, Mercy Emmanuel, the head of growth at Xend Finance noted that over the coming months, Xend Finance will be rolling out additional features that will further enhance the usability of the Xend Finance platform.

With all these beatdown ASUU strike rumours, Xend Finance is like my knight in shining armour. Download App: https://xend.finance/mobileapp.html

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