DeFi lending protocol Aave has surpassed $1 trillion in cumulative loans, the first in the DeFi sector, Cointelegraph reported on Feb. 26.
Stani Kulechov (스타니 쿨레초브), CEO of Aave Labs, said, “Aave has now established itself as a core part of the global financial system.” He added, “It will become the world’s largest liquidity network where banks and fintech are fundamentally connected.”
Aave also launched Aave Horizon, a new Ethereum-based lending platform, to strengthen integration with traditional finance.
Aave Horizon supports financial institutions and companies in borrowing stablecoins using real-world assets as collateral. VanEck, WisdomTree and Securitize joined as early participants.
Aave generated more than $8.33 billion in fees over the past 30 days, more than 4 times that of its second-ranked rival platform Morpho, Cointelegraph said.
Chi-gyu Hwang
delight@d-today.co.kr