Aave Labs has acquired Stable Finance, a fintech company known for simplifying stablecoin savings. This move is an attempt to translate Aave’s institutional DeFi success into accessible products for everyday users.
Summary
- Aave Labs has acquired Stable Finance to expand into consumer-facing DeFi products.
- The deal follows the success of Aave’s institutional platform, Horizon, which surpassed $300 million in deposits shortly after launch.
- Stable Finance’s app will be phased out as the technology is integrated into new Aave products.
According to one announcement on October 23, Aave Labs acquired San Francisco-based Stable Finance in a strategic acquisition. The deal brings Stable founder Mario Baxter Cabrera on board as Aave’s new Director of Product, with his entire engineering team also making the move.
While financial terms have not yet been disclosed, the acquisition focuses on talent and technology, with the existing Stable app being phased out and the underlying systems integrated into future Aave products.
Aave’s step into the everyday financial world
The development comes after the launch of Horizon, Aave’s institutional platform, which surpassed $300 million in deposits within weeks of its debut in August. That early success appears to have laid the foundation for a parallel push into the retail segment, where Aave now aims to make earning, borrowing, and saving in stablecoins as easy as using a neobank app.
Stable Finance plays a crucial role in this vision. The company made a name for itself with a free iOS app that turns the complexity of onchain yields into a one-click savings experience.
By allowing users to deposit directly from bank accounts or cards, the app facilitated $38 billion in deposits, demonstrating massive, latent demand for low-volatility crypto income. The technology has done away with blockchain wallets, gas fees and protocol interactions, creating a familiar user interface for a new financial system.
“Mario and the Stable team have built unique technology that supports a seamless user experience, which will help accelerate our consumer roadmap and extend the Aave protocol to new users,” said Stani Kulechov, founder of Aave Labs.
The move is part of a broader pattern for Aave Labs and marks its third strategic acquisition in as many years. The company previously integrated the teams from Sonar in 2022 and Family in 2023, each time strengthening internal design and product capabilities.
