Kraken’s Parent Company Buys AAVE Tokens, Signaling a Deeper Move Into DeFi Lending

Payward, the company that owns the Kraken exchange, has started building a position in AAVE, the token behind one of the biggest decentralized lending platforms. The amount was not disclosed, and more purchases could follow.

How Payward Bought AAVE

The tokens were acquired on the open market through Digital Asset Special Investments I, LP, an affiliated fund, along with the firm’s asset management clients. Buying on the market instead of from Aave directly is described by a person close to the matter as a sign of alignment that could lead to cooperation. Both sides say they are exploring joint opportunities, though no details were given.

Payward’s Asset Management Plans

The purchase supports a push into asset management covering digital assets, structured yield and tokenized investments. Its strategy rests on trading, banking, asset management and Payward Services, which provides infrastructure to banks and fintechs. Executive Gurpreet Oberoi cited long term belief in onchain credit and DeFi.

Aave by the Numbers

Aave lets users earn interest on deposits and borrow against collateral through smart contracts. It holds about $33 billion in net deposits and $11 billion in active loans, and token holders vote on protocol and treasury decisions. Founder Stani Kulechov said the partnership could bring Aave to more retail and institutional users.