Aave has launched a regulated decentralized finance product, Aave Arc, to an initial group of 30 institutions whitelisted by Fireblocks.
Aave arc seeks to give financial firms and corporations a means to borrow digital assets and benefit from lucrative DeFi yields, in a regulated environment.
The CEO and founder of Aave, Stani Kulechov, says that the firm started creating the product in the second quarter of last year to enable institutions to join the sector in a regulated way.
The liquidity pools in the protocol are permitted and require that an institution subscribing must first be whitelisted.
Fireblocks perform compliance checks in the onboarding process in line with the Financial Action Task Force policies as part of the deal.
Notable companies in the whitelist include Celsius, Bluefire Capital, CoinShares, Wintermute, Anubi Capital, Hidden Road, and Canvas Digital.
Aave has increased its total value locked to more than $26 billion since launching on Ethereum. The protocol has grown to the Polygon and Avalanche ecosystem.
Source: Crypto Briefing
