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Xend Finance
Xend Finance is the first DeFi project from Africa backed by Binance and Google, evolving into a platform to legally tokenize any asset. It functions as the first DeFi Credit Union, built on the Binance Smart Chain, and features a Social Hub to connect service providers like asset authenticators, compliance validators, and investors with asset owners.
Distributed
Description
Xend Finance, a DeFi project from Africa with backing from Binance and Google, is transitioning into a comprehensive platform for the tokenization of both tangible and intangible assets. It is recognized as the first DeFi Credit Union and the pioneering company from Africa to build on the Binance Smart Chain. To facilitate this, they have created Asset Chain, an EVM-compatible layer-1 blockchain. The company's primary objective is to establish the first global Onchain Asset Environment (OAE) framework, which will allow anyone to legally tokenize and bring any asset on-chain. Potential applications of this technology span P2P loans with asset-backed collateral, milestone-based project financing, real estate tokenization, agricultural land use tokens, co-ownership of luxury goods, and supply chain integration. A key component of the platform is the Social Hub, which enables service providers—including asset authenticators, compliance validators, insurance providers, market makers, investors, and auditors—to offer their services and collaborate with those registering assets.Grant Funding
VC Funding
None
2021
$0
$2M