Xend Finance, an African DeFi platform, has announced the launch of XendBridge, a crypto payment API, and SwitchWallet, a free public wallet infrastructure.
The launch of XendBridge and SwitchWallet add to Xend Finance’s suite of products available to startups and businesses to access cryptocurrency payment and storage solutions.
- XendBridge is the first crypto payment API in Africa that offers United States Dollar (USD) and Euro on-and-off-ramp
- SwitchWallet offers the first free wallet infrastructure for African startups
Speaking about the 2 products, Aronu Ugochukwu, CEO, Xend Finance, said:
“Previously, blockchain startups that wanted to support fiat in Africa found it very difficult because of the Central Bank restrictions on crypto.
We have created a solution that allows any startup to easily do remittances from the U.S. or Europe as well as on-ramp and off-ramp 5 major local currencies, including:
- Nigerian Naira
- Ghanaian Cedis, and
- Kenyan Shillings
As for SwitchWallet, startups before have been using foreign wallet services that require difficult KYBs and harsh regulations. Now, startups have their first free wallet infrastructure and one that is built to scale in Africa and meet international KYB standards.”
– CEO, Xend Finance
XendBridge is a peer-to-peer system that allows businesses to securely transact between fiat and cryptocurrency. Along with being able to access USD and Euros on XendBridge, numerous crypto assets can be transacted, including BTC, ETH, BNB, MATIC, USDT, USDC, BUSD, and more.
SwitchWallet charges no fees, which is a first for any wallet services being offered in Africa.
Both XendBridge and SwitchWallet can easily be plugged into any existing web application to access the Web3 business solutions. Xend Finance has a consumer angle, as well as multiple blockchain solutions for businesses.
The company’s global crypto bank has onboarded more than 100,000 savers since launching their mobile app in December 2021.
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