Aave, a UK-based tech company which specializes in the development of decentralized and hybrid blockchain applications, announced on Thursday the launch of Aave Lending, which is described as an efficient SaaS solution for the collateralization of loans. The blockchain application developer also reported that it signed its first client, Cashare, a crowdlending platform in Switzerland.
According to Aave, Aave Lending is the first turn-key solution in the blockchain space for creditors and borrowers to conduct loan transactions efficiently. Aave reported that by keeping core functions, like storing and managing collateral on the blockchain, operational costs are kept low, while the transactional speed remains high.
Speaking about signing Cashare up for the new service, Stani Kulechov, CEO of Aave, stated:
“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 noted that 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. Michael Borter, CEO and Co-Founder of Cashare, added:
“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. “