Payward and Clients Purchase AAVE to Explore Collaboration

On November 5, Payward, the parent company of the trading platform Kraken, along with its asset management clients, purchased an undisclosed amount of AAVE in the secondary market through the affiliated fund Digital Asset Special Investments I, and may continue to increase their holdings. This move aims to advance its asset management business layout, and both parties are exploring future collaboration opportunities. Stani Kulechov, founder and CEO of Aave Labs, stated that collaborating with Payward is a strategic step to bring Aave to more retail and institutional users. According to informed sources, this arrangement evolved from earlier negotiations that previously involved tokens and equity, but today’s announcement only disclosed the token purchase. The Aave protocol currently has net deposits of approximately $33 billion and active loans of about $11 billion.

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