AAVE Labs became one of the first major decentralized finance projects (DEFI) to secure authorization under the new European markets in crypto-assets regulation (MICA), allowing the company to offer regulated stableCoin ramps throughout the European Economic Area (EEA).
The approval enabling “Push,” AAVE Labs’ fiat-to-crypto service, to let users convert between Euros and Crypto assets, including AAVE’s native StableCoin, GHO. The Central Bank of Ireland has given permission to push Virtual Assets Ireland Limited, a wholly-owned subsidiary of AAVE Labs.
The company has chosen Ireland for European operations, signaling that the country is becoming a preferred hub for onchain finance following MICA. On June 25, Crypto Exchange Kraken Its MICA approval in Ireland is secureallowing it to expand its offerings across Europe.
The move comes as Global StableCoin Supply surpasses $300 billion by 2025, signaling strong demand for fiat-pegged crypto assets. At the time of writing, the coingecko data shown That the total market cap of StableCoin in the entire crypto sector is at $ 312 billion.
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Pushing AAVE opens up regulated access to GHO and other stableCoins
With MICA’s approval, PUSH will offer a regulated on and off-ramp to GHO and other StableCoins integrated into AAVE’s product suite.
According to AAVE’s announcement, conversion fees are set at zero, which is a competitive rate compared to the standard fee structure across legacy fintech providers and centralized exchanges (CEX).
While the protocol introduces the product as a “zero-fee” solution, it does not specify whether this fee structure is permanent or tied to an introductory period.
AAVE Labs says a compliant payment infrastructure is foundational to developers relying on Defi’s core users.
By providing a predictable, auditable path between euro and crypto assets, the push could reduce one of the biggest frictions in Defi adoption: the reliance on CEXs for fiat-to-crypto conversions.
The ability for a defi-native organization to run a compliant Fiat bridge represents a significant shift as the protocol supports tens of billions of StableCoin liquidity.
According to In Defillama, AAVE processed a volume of $ 542 million in the last 24 hours alone. The data also showed that the total value of properties borrowed by users from AAVE’s lending pools exceeded $ 22.8 billion.
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