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    Home»Bitcoin»Aave Launches Authorized DeFi Platform Aave Arc
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    Bitcoin

    Aave Launches Authorized DeFi Platform Aave Arc

    AdministratorBy Administrator05.01.2022No Comments2 Mins Read
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    Aave Arc, the authorized version of the popular DeFi lending platform Aave, launched today. Fireblocks, an institutional cryptocurrency custodian company, has become the first whitelisted Aave Arc.

    Aave first unveiled the legal platform in July last year. The platform is designed for organizations looking to participate in the DeFi sector as required.

    Aave Arc allows certain parties who have passed due diligence to be able to automatically borrow and lend cryptocurrency to other such parties. It works the same as the main Aave protocol, but only approved parties can participate in it.

    Fireblocks, Aave Arc’s first whitelist, will conduct due diligence on organizations looking to lend or borrow crypto assets through the platform. Initially, Aave Arc will support four assets: Ether (ETH), Wrapped Bitcoin (WBTC), USDC stablecoin, and Aave’s own token (AAVE).

    The launch of Aave Arc will enable the world’s largest organizations to start participating in DeFi, according to Fireblocks co-founder and CEO Michael Shaulov.

    Shaulov said Fireblocks will use globally accepted KYC and due diligence procedures in line with FATF guidelines to connect organizations to DeFi.

    At launch, Fireblocks had whitelisted 30 organizations to participate in Aave Arc. These include SEBA Bank, Bluefire Capital (acquired by Galaxy Digital), Celsius, CoinShares, GSR, Ribbit Capital, QCP Capital, and Wintermute.

    “The launch of Aave Arc is a turning point for DeFi,” said Rich Rosenblum, GSR co-founder and president. “With Fireblocks providing institutional access to DeFi pools, companies like ours can create new products. for our clients “.

    While Fireblocks is Arc Aave’s first whitelist, more projects are expected to join as the platform’s whitelisting. Last month, Securitize submitted a proposal to the governing forum Aave to make it the next whitelist.

    “Additional whitelisting for Aave Arc will help make it easier for market participants to choose to migrate to Aave Arc through one or more whitelisting,” said Aave founder and CEO Stani Kulekhov.




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    Aave Arc Authorized DeFi Launches platform
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