Xend Finance has launched a Crypto Payment API and wallet infrastructure to aid access of crypto-related services to users. This announcement was made yesterday:
Being an icon of blockchain innovation in Africa, the tech firm has created a lot of products, and services to assist developers to build more blockchain-based infrastructure as well as user-friendly crypto-banking systems for anyone.
The products, XendBridge and SwitchWallet, are targeted at the global crypto market with a focus on Africa. XendBridge will be the first crypto payment API that will allow Africans to transact with U.S. Dollars, Euros, and other home-based currencies like Nigerian Naira, Kenyan Shillings, and Ghanaian Cedis.
Then, SwitchWallet will be accessible by startups for free instead of paying the usual $100,000 or more per quarter for a similar service.
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Xend Finance, Blockchain and the African Market
In December last year, Xend Finance launched its maiden cryptocurrency aggregator across several blockchains. By June 29, 2022, there were more than 100,000 users on the platform and then the team launched the product in Ghana and Kenya to access the market.
The team also hit another milestone on July 19, 2022, when they recorded about 24 Million $XEND tokens being staked on the platform. Xend Finance has shown that there is a huge market in Africa that requires financial services backed by blockchain technology.
Speaking about the new development, the CEO, Ugochukwu Aronu explained that the products being launched will help startups in Africa carry out remittance operations using the US Dollars, and other foreign currencies. For SwitchWallet, Ugochukwu believes that it will help startups carry out wallet-related activities as they’ve always done with similar foreign products but this is “built to scale in Africa and meet international KYB standards.”
The first that is headquartered in Enugu, Nigeria is backed by global blockchain brands including Google Launchpad, Binance, NGC Ventures, Hashkey and has an international team from several professional backgrounds.
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