CHAISSO, Switzerland, 18th September 2018 / PRNewswire / – The founders of popular Switzerland-based decentralized digital asset-backed lending platform ETHLend today announced the creation of Aave, a new technology company focused on empowering people through innovation. The name Aave, which comes from the Finnish word for “ghosts”, was chosen because the brand continues to fascinate users with its evolving and inventive technology. The technology-based company intends to fill the gaps that centralized fintech players like PayPal, Skrill and Coinbase have left by introducing new products and services like Aave Pocket, Aave Lending (SaaS), Aave Gaming, Aave Custody and Aave Clearing introduces.
The leadership roles remain unchanged, with ETHLend becoming a subsidiary of Aave. Stani Kulechov remains CEO, Jordan Lazaro Gustave as COO and Nolvia Serrano as CMO. Mika Söyring will act as CFO and Ville Valkonen as CCO. Mika was previously CFO of healthcare technology company Revenio Group Corporation (formerly Done Solutions Corporation) and has extensive experience as an entrepreneur and finance specialist. Ville previously operated legal advice focused on start-ups in Finland, and has also worked for law firms with a strong focus on SMEs and contract advice.
Stani Kulechov, CEO of Aave, said, “By integrating our innovative technology with the services already offered by traditional institutions, we can transform the way people interact and offer new products and services that will ultimately help them achieve their goals Reaching them seamlessly at a lower cost, giving them access to new opportunities that were not possible before. “
“Aave is a pioneer in the lending industry. As ETHLend, Aave was the first in the industry to provide a solution to those in need of cash and free up funds previously seen as unassailable funds,” said Andrew Karos, CEO and Founder of BlueFire Capital and an Aave customer. “It is very gratifying to see them evolve. As a US market maker, I can confirm that you understand the importance of policies, procedures and safety, and I look forward to the future of our collaboration with great enthusiasm.”
Aave’s product portfolio spans multiple industries including technology, finance and games. The company will continue to operate its existing products as well as new products for Millennials and Generation Z. Several products in Aave’s line of products include:
- Aave Pocket is an ambient account innovation and one of the first products developed by Aave to serve the gig economy and micropayments industries, eliminating the need for credit cards and bank-to-bank fees between online merchant / developer entrepreneurs and their end-user customers. All transactions remain where the user earns and spends in an application and enable real peer-to-peer payments, even across international borders.
- ETHLend is a decentralized financial marketplace for peer-to-peer loans with digital asset-backed loans operated on the Ethereum blockchain using smart contracts. ETHLend solves the liquidity challenge of being poor in cash but rich in crypto assets. Borrowers can apply for safe loans by pledging their cryptocurrency assets as collateral to receive funds to be spent. This allows borrowers to maintain their exposure to cryptocurrencies without having to sell the assets if the borrower has sudden expenses.
- Aave Lending, inspired by ETHLend, is a turnkey solution for the digital asset-backed loan market. Aave Lending solves the problems that arise after digital asset storage and credit management powered by digital assets for creditors. As a SaaS (Software-as-a-Service) solution, creditors can easily start a digital asset-backed lending business, while Aave takes care of the secure storage of collateral, notifications and liquidation in case of margin calls.
- Aave Custody, currently available for use, is designed for institutional or private investors and serves as a custodian for the safekeeping of digital assets. Aave stores private keys according to the highest and most innovative security standards. Funds can be deposited and withdrawn on a daily basis.
- Aave Clearing is an over the counter (OTC) cryptocurrency clearing service for institutional investors and corporations who need to convert large amounts of cryptocurrency quickly and efficiently. The platform offers users an easy-to-use interface and an API connection that allows them to generate requests for quotations for cryptocurrencies and exchange their cryptocurrency for traditional currencies.
- Aave Gaming is an innovative game studio focused on creating a new gaming experience using blockchain, smart contracts and mixed reality.
“In the past ten years, the old industries have undergone major changes. Banking is no longer limited to traditional institutions, ”said Jordan Lazaro Gustave, COO of Aave. “As a team of developers and creative minds, these market forces are no stranger to Aave. By integrating new technologies, we will continue to offer secure and transparent applications at reduced costs to instill trust with our users while delivering an experience they can enjoy. “
Aave is a Switzerland-based technology company founded by Stani Kulechov in 2017 that focuses on empowering people through technology and innovation in all industries through the development of decentralized and hybrid blockchain applications. Aave has an extensive list of products that range from ambient accounts, loan software, custody and payment services to blockchain-based games and developer tools. The team behind this technology-based company is a multicultural group of creatives who care about transparency, security and trust.