Aave Labs Expands into Consumer-Focused DeFi with Stable Finance Acquisition
Aave Labs has made a significant move to translate its institutional DeFi success into accessible products for everyday users by acquiring Stable Finance, a fintech company known for making saving on stablecoins easier. This strategic acquisition is an attempt to bring the complexity of on-chain earnings into a one-click savings experience, making earning, borrowing, and saving in stablecoins as easy as using a neobank app.
Key Highlights of the Acquisition
The acquisition brings Stable founder Mario Baxter Cabrera on board as Aave’s new product director, with his entire engineering team also making the move. While financial terms are not yet disclosed, the acquisition focuses on talent and technology. The existing stable app will be phased out, and the underlying systems will be integrated into future Aave products.
The development comes after the launch of Horizon, Aave’s institutional platform, which recorded over $300 million in deposits within weeks of its debut in August. This early success appears to have laid the foundation for a parallel push into the retail segment. Stable finance plays a crucial role in this vision, having made a name for itself with a free iOS app that transforms the complexity of on-chain earnings into a one-click savings experience.
Impact of the Acquisition
By allowing users to deposit directly from bank accounts or cards, the app facilitated $38 billion in deposits, demonstrating massive, latent demand for low-volatility crypto yields. Its technology abstracted blockchain wallets, gas fees, and protocol interactions, creating a familiar user interface for a new financial system. According to Stani Kulechov, founder of Aave Labs, “Mario and the Stable team have developed unique technology that supports a seamless user experience and will help accelerate our consumer roadmap and expand the Aave protocol to new users.”
The move is part of a broader pattern for Aave Labs and marks its third strategic acquisition in as many years. The company previously integrated the teams from Sonar in 2022 and Family in 2023, each time strengthening its internal design and product capabilities. With this acquisition, Aave Labs aims to make DeFi more accessible to everyday users, and it will be interesting to see how this move plays out in the future.
For more information on this acquisition and its implications for the DeFi space, visit https://crypto.news/aave-labs-accelerates-retail-defi-with-stable-acquisition/
