Aave Labs acquires Stable Finance to bring simple, consumer-friendly onchain savings to the masses — expanding its DeFi reach with Stable’s app expertise and onboarding founder Mario Baxter Cabrera as Director of Product.

Aave Labs has acquired Stable Finance, a San Francisco-based fintech company that built a consumer-focused stablecoin savings app, as part of a push to make onchain savings products more accessible to mainstream users. The deal brings Stable Finance’s entire engineering team into Aave Labs and appoints founder Mario Baxter Cabrera as Director of Product, positioning him to help lead the development of new consumer-facing offerings on top of Aave’s DeFi infrastructure. Financial terms of the transaction were not disclosed. Stable Finance developed the Stable iOS app, which allowed users to move funds from bank accounts, debit cards, or crypto wallets into stablecoin-based savings products, earning yield on “digital dollars” without direct exposure to crypto price volatility. Aave Labs plans to phase out the existing Stable app and integrate its underlying technology and UX into future Aave products, with the acquired team continuing to focus on consumer savings applications inside Aave Labs. According to Aave, this acquisition supports its broader strategy to serve both institutional and retail users and reflects growing demand for simple, stablecoin-based yield products amid a rapidly expanding stablecoin market.

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

• Aave Labs Acquires Stable Finance (aave.com)
• Aave Labs Acquires Stable Finance to Expand Consumer DeFi ... (blockhead.co)
• Aave Labs Acquires Stable Finance - MaC VC (macventurecapital.com)
• Aave Labs Acquires Stable Finance Startup | Dealroom.co (app.dealroom.co)
• Aave (aave.com)

Explore the topic

• AAVE
• App
• Onchain
• Aave