The popular money market platform Aave will launch a permissioned version of the protocol exclusively for institutions.
After “extensive demand from various institutions,” Aave’s institutional money market will go live already this month. In partnership with the crypto custodian Fireblocks, the platform could go live in July.
On June 4, TraderNoah shared on Twitter a screenshot of an email he has received after the “Next Steps in Institutional DeFi” webinar. They Webinar featured Aave founder Stani Kulechov, Fireblocks CEO and co-founder Michael Shaulov, and Galaxy Digital CEO Mike Novogratz.
At first, Aave’s institutional platform will only support four selected assets:
It will also require a whitelisting process, which ensures that only verified institutions can use the platform.