Kraken parent company Payward and clients purchase AAVE, both parties discuss further collaboration.

BlockBeats news, November 5 — Kraken's parent company Payward and its asset management clients have purchased an undisclosed amount of AAVE in the secondary market through the affiliated fund Digital Asset Special Investments I, and may continue to increase their holdings. Payward stated that this move is to advance its asset management business layout, and both parties are exploring future cooperation opportunities. Stani Kulechov, founder and CEO of Aave Labs, said that partnering with Payward is a strategic step to bring Aave to more retail and institutional users.

People familiar with the matter said the arrangement evolved from earlier negotiations that had involved tokens and equity, while today's announcement only disclosed the token purchase. The Aave protocol currently has approximately $33 billion in net deposits and about $11 billion in active loans.