đŁ Is Aave entering the on-chain neobank game? â @AaveAave
Aave Labs just announced the acquisition of @GetStableApp, a U.S. fintech behind the mobile savings app Stable. And this news is anything but trivial.
đ Stable is a savings application that allowed users to deposit stablecoins and earn yield in a simple, accessible way.
The team, founder, and technology behind Stable are joining Aave Labs, and the app will be gradually integrated into the Aave ecosystem.
Behind this move, Aaveâs goal is clear:Â to leverage its existing infrastructure to expand into the retail savings market.
đŹÂ âWe believe the future of finance is onchain, and this acquisition reinforces our commitment to turning onchain finance into everyday finance: earning interest, borrowing, and saving.â â @StaniKulechov
We believe that beyond a simple product addition, the acquisition of Stable sends a strong signal:Â
đ Aave is positioning itself to enter the emerging on-chain neobank sector.
By launching a neobank, or at least a retail-focused savings application, Aave would complete its triptych:
â«ïžÂ Institutions â Horizon
â«ïžÂ DeFi native â Aave Protocol
â«ïžÂ Retail â Stable
DeFi and stablecoins have now reached a sufficient level of maturity, and Aave is the perfect example of it. The sector is finally ready to expand beyond the boundaries of crypto and reach the mainstream.
đ Aave is building a bridge between on-chain credit infrastructure and retail savings. And traditional finance should be paying attention.
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