By Emmanuel Elebeke

Nigerian Crypto bank, Xend Finance has announced that over 50-thousand people now use their savings platform in the country.

Xend Finance is a Nigerian Crypto bank designed for those in underserved areas.

The bank had earlier announced 10-thousand users at the end of January, following the release of their free mobile app on Android and Apple devices in December.

It is currently conducting University roadshow events across Nigeria, including in Enugu, Lagos, and other major cities in the country, while featuring over 50 billboards in the country.

The CEO of Xend Finance,  Ugochukwu Aronu, while commenting on the development said, “We spent our first year pushing code and ensuring our platform is secure through numerous audits, while developing a product that always gives our users the best interest rates across multiple chains,”

“Now that we have turned our attention to onboarding users, we have seen a tremendous response from first-time crypto purchasers and savers. They are responding to market conditions where their native currency is constantly devalued and suffering from inflation.”

Co-Founder of Polygon, Sandeep Nailwal, while commending Xend Finance for passing 50-thousand users on their platform, said, ‘‘As an early investor, I am proud of the work they are doing in Africa and beyond. Polygon is here to support their efforts in underserved regions around the world.”

The Xend Mobile App has some of the highest reviews on iOS and Android  for new blockchain applications, serving as a DeFi wallet, while also allowing for peer-to-peer fiat-to-crypto on-ramp and off-ramp.

Users can convert their local fiat currency to stablecoins and U.S. Dollars to access the highest APYs across Binance  Smart Chain (BSC) and Polygon by staking, or locking up their cryptocurrency for a period of time.