Key points
- Payward and its investment clients acquired an undisclosed amount of AAVE through secondary-market purchases.
- The investment involves a Payward-affiliated fund, with additional purchases possible.
- The move expands Payward's exposure to decentralised finance and strengthens its relationship with Aave.
Payward, the parent company of Kraken, and its clients have acquired an undisclosed amount of Aave (AAVE) through secondary-market purchases.
The investment targets Aave, the largest onchain lending network, with $33 billion in net deposits and $11 billion in active loans.
“This investment reflects our long-term conviction in onchain credit markets and DeFi, as well as growing demand from our clients for exposure to the infrastructure shaping the future of finance,” according to Gurpreet Oberoi, Vice President, Payward Asset Management and Institutional.
The acquisition advances Payward Asset Management's strategy of connecting clients with opportunities across digital assets, structured yield and tokenised financial instruments.
“Payward’s investment shows growing confidence in AAVE,” according to Stani Kulechov, Founder and CEO at Aave Labs.
AAVE grants holders governance rights over the network and its treasury, linking token ownership with decisions about the protocol's future.
Under the Aave Will Win framework, Aave Labs committed to directing revenue from Aave-branded products towards the Aave DAO treasury.
The investment adds institutional capital to Aave's ecosystem, with Payward retaining the option to purchase additional AAVE tokens.
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