New Aave iOS app simplifies funding and boosts stablecoin yields
The decentralized finance platform has launched a new mobile application built for Apple iOS. Developers addressed previous issues, including the cumbersome fee-calculation process and the manual entry of blockchain addresses.
Now, as the company announced, users can fund their accounts by depositing euros and dollars or linking their debit cards while the system converts their funds into interest-bearing stablecoins.
Aave Labs holds virtual asset service provider status under the European Markets in Crypto-Assets (MiCA) framework, allowing it to operate as a regulated entity.
In addition, the app gains authorized access to SEPA banking services for euro and dollar transactions thanks to its virtual asset service provider designation.
An unexpectedly attractive offering
The app protects user balances up to $1 million, exceeding the $250,000 coverage offered by the U.S. Federal Deposit Insurance Corporation for bank accounts. It also promises an annual yield on stablecoins that surpasses U.S. Treasury bill returns, as the yield is generated through on-chain borrowing rather than central bank rate decisions.
The Aave app arrives at a time when stablecoin issuance is growing rapidly, especially in the United States.
Following the passage of the GENIUS Act, the supply of U.S. dollar-pegged digital tokens has risen by more than 48%, surpassing $300 billion. Dollar-denominated stablecoins such as USDT and USDC are also being used more frequently for cross-border payments and trading, capturing the largest share of the global market.
As we wrote, Stani Kulechov advances liquidity strategy at Aave Labs
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