Non-Custodial Platform Aave Announced the Launch of Aave Pro

Aave (AAVE) Surges 14% Over Past 24 Hours!
  • Non-custodial platform Aave announced the launch of Aave Pro.
  • Aave pro will offer the same kind of services as Aave
  • Aave pro can be the entrance for institutions into DeFi.

An open-source and non-custodial platform Aave plans to launch ‘Aave Pro’ later this month. Aave pro will offer the same kind of services as Aave’s current platform. The platform will collaborate with digital asset custody and settlement platform Fireblocks. 

Aave is a decentralized lending system that enables users to lend, borrow and earn interest on digital belongings. This is all done without a middleman. Aave allows certain loans called flash loans to be instantly issued and settled.

Moreover, in a webinar titled “Next Steps in Institutional DeFi”, Aave announced its new platform. Stani Kulechov, Michael Shaulov, and Mike Novogratz, the CEOs of Aave, Fireblocks, and Galaxy Digital, featured in the webinar.

Furthermore, on the webinar participant posted a screenshot of an email he received on Twitter. The email sent by Aave was the recap of the webinar that explains what Aave Pro is. The announcement on Twitter received a positive reply Twitter. Many of them think Aave pro can be the entrance for institutions into DeFi and supports the firm.

More so, the partnership of Aave with Fireblock, adds a whitelisting layer of Aave’s V2 smart contracts. The launch of the Aave Pro will allow institutions, corporates, and fintech clients to access DeFi while remaining compliant with regulations. Initially, the offering will support only, Bitcoin (BTC), Ethereum (ETH), Aave (AAVE), and USDC.

The CEO of Aave, Kulechov noted,

“We will have different kinds of permission markets so that DeFi will be more layered and tailored to specific needs.”

Even more, in May Aave has already informed about the Aave Pro, When the Aave CEO mentioned that Aave had created a private pool for institutions to practice before entering into DeFi.

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