TI Rating Report - Xend Finance
Xend Finance was first established to help prevent losses caused by currency devaluation and protect the value of the savings for African countries and other third-world countries. Xend Finance provides a DeFi platform where cooperatives and credit unions could save money and earn interest on the saving. Xend Finance is built on Binance Smart Chain and Ethereum.
Users could participate in Xend Finance as individuals or as groups (cooperatives or credit unions) with BUSD. Xend Finance aggregates different lending protocols and the deposits are staked on lending platforms including Compound, Aave, and Maker automatically. Users earn interests and receive XEND as rewards. And the deposits are insured by decentralized insurance protocol.
Xend Finance has established a credit union partnership with TechFusion, a solution provider for cooperatives and credit unions in Africa, and will be accessible to five credit union companies with nearly 5,000 credit union members.