Aave DeFi Protocol Joins Growing List Of Crypto Startups Authorized Under New FCA Law

Aave DeFi Protocol Joins Growing List Of Crypto Startups Authorized Under New FCA Law
фото показано с : zycrypto.com

2020-8-26 23:03

Popular Ethereum-based DeFi protocol Aave has been granted an Electronic Money Institution License (EMI) by The UK Financial Conduct Authority, which will enable it to issue crypto-assets and provide alternative payment services in the UK.

The approval was granted through Aave Protocol’s UK subsidiary Aave Limited on July 7 and comes almost two years after the initial submission in 2018, according to Aave’s CEO and founder Stani Kulechov.

“Aave’s UK entity responsible for integrations and support, Aave Limited, is now  licensed as an authorized electronic money institution. After a lengthy application process, the authorization was granted in July by the Financial Conduct Authority.”

In an email shared with The Block, Kulechov stated that Aave Ecosystem’s aim has always been to give people more access to the DeFi space. The authorization now makes Aave the third recipient of an EMI under the new FCA anti-money laundering Law, after Archax and Gemini.

Expanding the Aave Ecosystem Globally

Aave plans to use this authorization to further expand its larger adoption goals for the project. The piloting stage will be implemented in the UK, before building enough momentum to spread to the rest of Europe and later around the world.

“It will mostly support on-boarding new users in the Aave Ecosystem and to the decentralized protocol over time.”

Using the Aave protocol, users will gain more exposure to stablecoins and other native assets in the Aave Ecosystem, with additional licensing in the future allowing Aave to broaden its adoption.

“The Aave Protocol itself is decentralized and shall be governed by the AaveDAO, however, Aave integration entity will seek additional licenses to help on-board newcomers into the Aave Ecosystem until the ecosystem reaches wide adoption.”

Aave is one of the most popular DeFi protocols on Ethereum, which recorded an outstanding performance in the June and July DeFi boom which has seen its market cap rise to $1 billion. This represents a significant percentage of the total $6 billion DeFi market.

All Exchanges to Register under FCA’s New Anti-Money Laundering Law

New York-based Gemini crypto brokerage firm and UK’s Archax are the most recent to gain an FCA approval under the new regulatory anti-money laundering law that requires all exchanges in the UK to register with the FCA. Earlier Exchanges with FCA’s older approval are Coinbase and Revolut.

Coinbase was the first US-based crypto exchange to be granted access to the European market by the FCA in March 2018. Revolut is also a key UK-based fintech company regulated by relevant financial authorities in both the US and UK.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Aave (LEND) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.5143
Капитализация $0 Rank 99999
Цена в час новости $ 0.8413 (-100%)

aave defi protocol authority financial enable conduct

aave defi → Результатов: 70


Aave представили новую дорожную карту

Один из крупнейших протоколов децентрализованных финансов (DeFi) Aave представил обновленную дорожную карту. Масштабный апгрейд экосистемы запланирован на середину 2025 года. Дорожная карта Aave включает в себя запуск четвертой версии протокола, новый интерфейс и расширенные возможности DeFi.

2024-5-3 20:55


Фото:

Aave (AAVE) Rebrands Its Institutional-Grade DeFi Offering to Aave Arc

Leading DeFi lending and borrowing protocol Aave announced a rebranding to its institutional-grade DeFi offering. Aave Pro Rebrands to Aave Arc Aave (AAVE) the top decentralized finance (DeFi) lending and borrowing protocol with more than $11 billion TVL recently announced the rebranding of its upcoming institutional platform from Aave Pro to Aave Arc, the platform’sRead More

2021-7-28 17:00


Tether расширяет возможности DeFi-кредитования

Блокчейн-компания Tether, обеспечивающая поддержку наиболее ценного с точки зрения рыночной капитализации стейблкоина, и протокол с открытым исходным кодом, не связанный с хранением, Aave Protocol объединились, чтобы обеспечить более широкое внедрение Tether (USDT) в зарождающуюся экосистему DeFi.

2020-3-11 11:03


Flash Loans - Mapping the esoteric landscape of DeFi

Andy talks with self-described ‘flash loans maximalist’ Stani Kulechov, founder and CEO of the Aave Protocol. We explore the exotic and esoteric landscape of Decentralized Finance. Against the backdrop of the recent DeFi exploits, we discuss the new flash loan innovation that allows traders to take out a loan without collateral by paying back the loan in the same smart contract transaction.

2020-2-27 12:30