Aave has achieved a major milestone, surpassing $1 trillion in cumulative lending volume. This achievement reflects the growing importance of decentralized finance (DeFi) protocols like Aave in the financial sector.
The protocol's CEO, Stani Kulechov, emphasized the significance of this achievement in an X post. He noted that DeFi and Aave didn't exist a decade ago, but now Aave stands as the backbone of on-chain lending, powering a new financial system that is open, global, and unstoppable.
Aave Labs has launched several initiatives to increase its presence in traditional finance. In August, it launched Aave Horizon, a lending market specifically for institutional investors to borrow stablecoins against real-world assets. VanEck, WisdomTree, and Securitize were among the first participants to use Aave's institutional offering.