Kraken’s parent company Payward and its clients have purchased AAVE, with both parties exploring further cooperation opportunities.

Payward, the parent company of crypto exchange Kraken, and its asset management clients have purchased an undisclosed amount of AAVE on the secondary market via its affiliated fund Digital Asset Special Investments I, and may continue to increase holdings. Payward said the move is aimed at advancing its asset management business expansion, and the two parties are exploring future cooperation opportunities. Stani Kulechov, founder and CEO of Aave Labs, noted that the partnership with Payward is a strategic step to bring Aave to more retail and institutional users. A source familiar with the matter revealed that the deal evolved from earlier negotiations, which had previously included both tokens and equity, though today’s announcement only covers the token purchase. The Aave protocol currently holds approximately $33 billion in net deposits, with active loans totaling around $11 billion.