The Fireblocks company will be in charge of KYC and anti-money laundering regulations.
The decentralized finance protocol (DeFi) Aave announced the arrival of its platform focused on institutional clients. Through an email sent at the beginning of this week, those responsible for Aave stated that their service would be operating this same month of July.
In the text, shared by Noah Goldberg on Twitter, the exact date on which Aave Pro will be available is not stated. However, the message published by the founder of Gold Beech Capital states that it is the first "permitted decentralized protocol . "
the creators of Aave Pro presented this tool as a way to give access to institutions and corporate clients to the world of DeFi . Thus, these types of clients could "benefit from the transparency and automation of decentralized finance."
The email corresponds to the summary of a webinar that Aave carried out, to present its new platform. Among the details provided by the message, it is explained that only members of a "white list" who have passed the identity verification mechanism (KYC) will be able to access Aave Pro.
Aave Pro will initially support four assets, based on the fact that "institutional demand is concentrated in these": bitcoin , ether, the stablecoin USD Coin (USD) and the platform's own cryptocurrency, Aave.
The platform will be available to institutions, fintech companies and other organizations, as long as they go through the KYC mechanisms. For that process, Aave will work in conjunction with the custody and cryptocurrency services company Fireblocks. In addition, this same company will be in charge of applying the rules against money laundering in Aave Pro .
New rise of DeFi
Aave's plans must be added to the recent announcement of a very similar service from the creators of Compound. At the end of June, the creation of Compound Treasury , its own DeFi platform for institutions, was announced.
At Compound Treasury, also operated in conjunction with Fireblocks, users will be able to deposit USDC into Compound for guaranteed interest rates .
With these announcements, the DeFi market seems to take a second wind . In a week, the tokens of the main decentralized finance protocols have remarkably appreciated.
Final words
According to data from CoinMarketCap, Aave has risen close to 45% in the last 7 days, while Compound's COMP token has risen over 60%. MKR, Uniswap and PancakeSwap have also increased between 20% and 30%.
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