Xend Finance is heralded as Africa's pioneering DeFi project, significantly backed by major names like Binance and Google. It aims to revolutionize finance through its innovative approach that allows any asset—whether tangible or intangible—to be tokenized and made accessible globally.
The project commenced with a decentralized finance platform designed for both individuals and institutions such as credit unions, offering users opportunities to hedge against inflation and earn attractive returns of up to 15% APY. More than 200,000 users are already utilizing Xend's DeFi products.
Xend's roadmap includes several phases, with the current highlight being the development of the first layer-1 EVM-compatible blockchain in Africa, known as Asset Chain. This blockchain facilitates legal tokenization of assets, promising to onboard various asset classes onto the blockchain, making investment more accessible to everyone.
In its future plans, Xend aims to establish a Global Onchain Asset Environment (OAE) that fosters innovative use cases such as P2P loans, milestone-based payouts for project funding, real estate tokenization, and agricultural land usage rights. By integrating blockchain technology, the platform seeks to enhance transparency and security in transactions.