The founders of popular decentralized, digital asset-backed credit platform ETHLend today announced the launch of Aave, a new blockchain technology company. The name Aave comes from the Finnish word for “spirit”. The company intends to introduce new products and services such as Aave Pocket, Aave Lending (SaaS), Aave Gaming, Aave Custody, and Aave Clearing.
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 bring new products and services to them, ultimately help achieve their goals seamlessly and at lower cost, giving them access to new opportunities that were not possible before. “
The leadership positions remain unchanged as ETHLend becomes a subsidiary under Aave. Stani Kulechov remains as CEO, Jordan Lazaro Gustave as COO and Nolvia Serrano as CMO. Mika Söyring will join 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 ran a legal advisory firm focused on start-ups in Finland and also worked for law firms that focused heavily on SMEs and advised on contract issues.
[perfectpullquote align=”full” bordertop=”false” cite=”Andrew Karos, CEO, and Founder of BlueFire Capital and an Aave customer” link=”” color=”” class=”” size=””] “Aave is a pioneer in the credit industry. As ETHLend, Aave was the first in the space to provide a solution for those in need of liquidity, unlocking what was previously considered unassailable. It is very satisfying to see how they develop. As a US based market maker, I can affirm that you understand the importance of policies, procedures and safety and I look forward to the future of our working relationship with great enthusiasm. ” [/perfectpullquote]
Some of the products under the Aave line include:
- Aave Pocket – is an ambient account innovation and one of the first products developed by Aave for the gig economy and micropayments industry that eliminates credit cards and bank-to-bank fees between online merchants / developer entrepreneurs and their end users customers are required. All transactions stay where the user earns and spends and are contained in one application. This enables real peer-to-peer payment, even across international borders.
- COALING – is a decentralized financial market for peer-to-peer loans with a digital asset backing function, which are operated in the Ethereum blockchain with the help of intelligent contracts. ETHLend solves the liquidity challenge of being poor in cash but rich in crypto assets. Borrowers can apply for secure loans by pledging their cryptocurrency assets as collateral to receive funds. This allows borrowers to maintain their exposure to cryptocurrency 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 posed by digital asset storage and digital asset management by creditors. As a SaaS (Software-as-a-Service) solution, creditors can easily start a digital asset-backed lending business, while Aave ensures the secure storage, notification and liquidation of collateral for margin calls.
- Aave custody – Currently available for use, designed for institutional or private investors and serves as a custodian for storing digital assets. Aave stores private keys in compliance with the highest and most innovative security standards. Funds can be brought into and out of custody on a daily basis.
- Aave clearing – is an OTC cryptocurrency clearing service (OTC) for institutional investors and corporations who need to convert large amounts of cryptocurrency quickly and efficiently. The platform offers users a user-friendly interface and an API connection with which they can generate requests for quotations for cryptocurrencies and exchange their cryptocurrency for conventional currencies.
- Aave Gaming – is an innovative game studio that focuses on creating a new gaming experience with blockchain, smart contracts and mixed reality.
[perfectpullquote align=”full” bordertop=”false” cite=”Jordan Lazaro Gustave, COO of Aave” link=”” color=”” class=”” size=””]“In the last ten years there has been a great change in the old industries. Banking is no longer limited to traditional institutions. As a team of developers and creative thinkers, Aave is no stranger to these market forces. By integrating new technologies, we will continue to offer safe and transparent applications at reduced costs to instill confidence and confidence in our users while providing an experience they can enjoy. “[/perfectpullquote]