Fintech Company Aave Receives Cryptocurrency Licenses in Estonia

Aave, the Fintech company behind ETHLend, a decentralized crypto lending marketplace, has just received approval for two regulatory licenses from the Estonian Financial Intelligence Unit (FIU).

The first one is a cryptocurrency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term license, which allows Aave to provide a wide variety of exchange services and solutions for cryptocurrency users, including converting fiat to crypto, crypto to fiat, and crypto to crypto transactions.

Along with this exchange license, Aave has also gained approval for cryptocurrency wallet license, which allows the company to provide cryptocurrency wallet services.

As one of the most progressive Member States in the European Union, Estonia has always been very open towards Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology, welcoming the variety of start-ups and decentralized service providers and offering them a chance to start and grow their business.

For several months Aave has been developing products and services which are complementary to ETHLend lending marketplace, that is about to receive its latest and biggest upgrade up to date, including BTC interoperability and stablecoins for crypto-backed loans.

“Now we are able to provide a gateway for our borrowers to cash out the funds from ETHLend and spend these funds in real life," explained Stani Kulechov, the CEO of Aave.

Aave is headquartered in Switzerland and recently expanded to the UK with a new office in Shoreditch, London to support the integration for SaaS-based lending module, Aave Lending, offered to regulated creditors.