Aave Labs has acquired Stable Finance, a San Francisco-based company. Aave Labs is the developer of the Aave lending ecosystem and is actively expanding consumer-facing on-chain services.
Stable Finance was founded in 2023, and its mobile application allows users to deposit funds via bank accounts, credit cards, or crypto wallets, earning stablecoin yields in the over-collateralized DeFi market.
The transaction was announced on Thursday, and Stable Finance founder Mario Baxter Cabrera and his engineering team will join Aave Labs. The specific financial details of the acquisition have not been disclosed.
The acquisition shows that Aave is seeking a balance between expanding retail services and the institutional market. The Aave protocol recently announced the completion of its integration with Maple Finance's yield-bearing stablecoins and launched the Horizon institutional token asset market.
Aave Labs founder Stani Kulechov stated that this acquisition "further strengthens our commitment to integrating on-chain finance into everyday life."
According to DefiLlama, Aave's current total locked value (TVL) has exceeded $37.25 billion.
Aave is not the first protocol or company to provide yields to users through over-collateralized DeFi markets and stablecoin lending strategies.
In September, Coinbase directly integrated the DeFi lending protocol Morpho into its app, allowing customers to lend USDC and earn yields. This update enables users to access the on-chain lending market, earning up to 10.8% returns, significantly higher than Coinbase's standard USDC rewards program of 4.5%.
In early October, Crypto.com announced a similar partnership with Morpho, bringing Morpho's stablecoin lending market to the Cronos blockchain of the exchange. After the integration, users can deposit WETH (Wrapped Ethereum) into the Morpho vault and use it as collateral to lend stablecoins for yields.
Although the GENIUS Act (GENIUS Bill) will be passed in July 2025, prohibiting the issuance of yield-bearing stablecoins, the bill does not explicitly restrict DeFi lending protocols and does not prevent exchanges from providing yields through on-chain markets.
This regulatory gap has sparked strong reactions from traditional banks, which believe that stablecoin loopholes lead to unfair competition and could result in the loss of trillions of dollars in deposits from the U.S. banking system.
However, many in the crypto industry hold a different view. On September 16, Coinbase stated in a blog post: "The institutions currently warning of 'systemic risk' are actually those making hundreds of billions from card processing fees, while stablecoins can completely bypass these fees."
Related: The EU imposes sanctions on Russian A7A5 stablecoins and cryptocurrency exchanges.
Original article: “Aave Expands Consumer DeFi Landscape Through Acquisition of Stable Finance”
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