ETHLend (LEND) Declares Launch of New Parent Company Aave
Today, the founders behind the notable decentralized lending platform ETHLend, declared the launch of Aave. Aave is a new technology company focused primarily on empowering people through innovation. The name Aave comes from the Finnish word meaning "ghost". As per company spokesperson, this name has been chosen because they continue to intrigue users through their evolving and imaginative technology. The technology-based company desires to fill the spots left by centralized fintech players such as Skrill, PayPal, and Coinbase, by introducing new products and services, such as Aave Clearing, Aave Pocket, Aave Gaming, Aave Custody, and Aave Lending (SaaS).
Aave was founded in 2017 by Stani Kulechov, and it focused primarily on empowering people by disrupting all industries through the development of decentralized and hybrid blockchain-based applications. Aave includes in its portfolio an exhaustive list of offerings ranging from lending software, ambient accounts, custody and payments services to developer tools and blockchain-based games. The team leading this venture is a multicultural group of creatives who hold security, transparency, and trust at their core.
Aave was founded in 2017 by Stani Kulechov, and it focused primarily on empowering people by disrupting all industries through the development of decentralized and hybrid blockchain-based applications.
Aave's portfolio covers products across several industries, including finance, technology, and games. The company shall continue to power its existing products in addition to new ones focused primarily on millennial population. Notable products under Aave's offerings include Aave Pocket, ETHLend, Aave Custody, Aave Lending, Aave Clearing, and Aave gaming.
Aave Pocket is being developed by Aave to serve the gig economy and micropayments industry, removing the need for credit cards and bank-to-bank fees between online merchants/developer entrepreneurs, and their end-users.
Using ETHLend, borrowers can request secure loans by pledging their cryptocurrency assets as collateral to receive spendable funds. It's a peer-to-peer loan marketplace. This facilitates the borrowers to maintain exposure on their cryptocurrencies and digital assets without the need for selling the assets when the borrower has sudden expenses.
Notable products under Aave's offerings include Aave Pocket, ETHLend, Aave Custody, Aave Lending, Aave Clearing, and Aave gaming.
Aave Lending has been created by taking cues from ETHLend. It is a turnkey solution for the digital asset-backed lending market. Aave Lending solves the issues involving virtual currency storage and digital asset-backed loan management for creditors.
Aave Custody is designed specifically for institutional or private investors and serves as a custodian for storing virtual assets. Aave stores private keys by following the highest standards of security.
Aave Clearing is an over-the-counter (OTC) cryptocurrency clearing service for businesses and big institutional investors who require to convert gigantic amounts of cryptocurrency promptly and efficiently.
At press time, LEND token is showing a gain of around 4.6 percent on a 24-hour scale. It is trading at a price of $0.013 and covering a market cap of $15.1 million.