The giant behind Kraken doubles down on DeFi
Payward buys #AAVE and accelerates its move into asset management
Strategic foray into DeFi
Payward (Kraken’s parent company) and its asset management clients have acquired an undisclosed amount of AAVE tokens on the secondary market through their affiliated fund, Digital Asset Special Investments I, LP, signaling clear strategic alignment for future collaborations with the lending protocol.
Change to the original terms: Although the initial proposal contemplated purchasing 250,000 AAVE tokens and acquiring a 15% equity stake in Aave Group (at a valuation of $385 million), the final announcement focused solely on acquiring tokens on the secondary market, without mentioning an equity investment for now.
Corporate diversification strategy: The purchase is part of Payward’s business restructuring around four core pillars (Trading, Banking, Asset Management, and Payward Services), aimed at reducing its reliance on trading fees while promoting investment products, structured yield, and tokenized assets.
Aave’s market weight: As the leading decentralized lending protocol, Aave has approximately $33 billion in net deposits and $11 billion in active loans, giving Payward governance power over decisions concerning the protocol’s treasury.
#CryptoNews
$AAVE
$ETH
$BNB
Payward buys #AAVE and accelerates its move into asset management
Strategic foray into DeFi
Payward (Kraken’s parent company) and its asset management clients have acquired an undisclosed amount of AAVE tokens on the secondary market through their affiliated fund, Digital Asset Special Investments I, LP, signaling clear strategic alignment for future collaborations with the lending protocol.
Change to the original terms: Although the initial proposal contemplated purchasing 250,000 AAVE tokens and acquiring a 15% equity stake in Aave Group (at a valuation of $385 million), the final announcement focused solely on acquiring tokens on the secondary market, without mentioning an equity investment for now.
Corporate diversification strategy: The purchase is part of Payward’s business restructuring around four core pillars (Trading, Banking, Asset Management, and Payward Services), aimed at reducing its reliance on trading fees while promoting investment products, structured yield, and tokenized assets.
Aave’s market weight: As the leading decentralized lending protocol, Aave has approximately $33 billion in net deposits and $11 billion in active loans, giving Payward governance power over decisions concerning the protocol’s treasury.
#CryptoNews
$AAVE
$ETH
$BNB
