The company specializing in decentralized finance (DeFi), Aave Labs, announced the acquisition of the fintech startup Stable Finance. The move, confirmed this October 23, primarily aims to expand consumer access to on-chain savings products. Stani Kulechov, founder of Aave Labs, stated that this acquisition reinforces the company’s mission to “turn on-chain finance into everyday finance.”
The strategic move marks a clear effort to simplify and bring DeFi products to a mass audience, seeking to close the gap between traditional finance and the blockchain ecosystem. Stable Finance’s technology is expected to facilitate the creation of more accessible and intuitive savings products for non-crypto-native users, integrating into the Aave ecosystem.
Following the transaction, Stable Finance’s technology will be directly integrated into future products developed by Aave Labs. How this integration materializes and what new consumer savings tools emerge will be closely watched. As part of the transition, Stable Finance’s current application will be gradually phased out.
Source: https://x.com/aave/status/1981372036434829333
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