Aave is a decentralized finance protocol enabling cryptocurrency lending and borrowing. Its main stablecoin is GHO.
| Product | Backing | Status | Market cap |
|---|---|---|---|
| GHOGHO Stablecoin | Crypto Backed | Active | $698M |
| Legal name | Aave Labs |
| Founded | 2017 |
| Headquarters | London, United Kingdom |
| Stage | DAO |
| Ticker | AAVE |
| CEO | Stani Kulechov |
| Founders | Stani Kulechov |
| Funding rounds | Round Strategic · Amount $25M · Year 2020 · Investors: Blockchain Capital, Standard Crypto, Blockchain.com Ventures |
| Key events | Date 2023-07 · Event Launched GHO stablecoin on Ethereum mainnetDate 2025-12 · Event SEC concluded investigation without enforcement action |
| Regulatory status | Jurisdiction EEA (Ireland) · License type MiCA authorization — Push Virtual Assets Ireland (Push by Aave Labs); enables regulated stablecoin on/off-ramping in the EEA · Status Licensed · Issued 2025 |
| Website | https://aave.com |
Aave is a decentralized finance (DeFi) protocol that facilitates the lending and borrowing of cryptocurrencies without traditional financial intermediaries. Founded in 2017 by Stani Kulechov, Aave operates as a decentralized autonomous organization (DAO). In 2025, Push Virtual Assets Ireland (operating as Push by Aave Labs) secured authorization under Europe's Markets in Crypto-Assets (MiCA) regulation, enabling regulated stablecoin on/off-ramping across the European Economic Area. The U.S. SEC concluded its investigation into Aave without enforcement action in December 2025.