Aave works with Cashare on digital asset-back lending

Source: Aave

Tech company Aave, which specializes in the development of decentralized and hybrid blockchain applications, today announced the launch of Aave Lending, an efficient SaaS solution for the collateralization of loans.

The company has also signed its first client, Cashare, the largest peer-to-peer crowdlending platform in Switzerland with over 10 years of experience in the online lending space.

Aave Lending is the first turn-key solution in the blockchain space for creditors and borrowers to conduct loan transactions efficiently. By keeping core functions, like storing and managing collateral on the blockchain, operational costs are kept low, while the transactional speed remains high. The software’s pilot product ETHLend, has generated over $15 million in lending volume since its launch.

“ETHLend pioneered decentralized p2p lending with its initial platform, and with Aave, we’re working to expand that vision into digital asset-backed lending for both businesses and individuals,” said Stani Kulechov, CEO of Aave. “Partnering with Cashare is a great first step for Aave Lending, as they're one of the biggest p2p lending platforms. By integrating with Aave Lending, Cashare’s customers will now be able to use their digital assets as collateral for loans.”

Aave Lending’s technology is currently available for all creditors, enabling them to access the new digital asset class made up of companies and individuals, who wish to leverage their digital assets for loans. The solution is easy to implement within any existing lending businesses, making it scalable across the global market.

“No global service combines the fiat-based world of lending with that of cryptocurrency. With Aave, we can offer a more innovative solution,” said Michael Borter, CEO and Co-Founder of Cashare. “By providing digital asset-backed lending in addition to fiat loans, we’re able to offer investors the ability to participate in the crypto industry with an attractive return while maintaining a high level of security since all loans are asset backed. ” 

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