Kraken’s parent company, Payward, and its asset management clients have purchased AAVE tokens as part of their decentralized finance investments.
According to today’s announcement, the purchases were made through Payward-linked Digital Asset Special Investments I, LP fund and the company’s asset management clients. Instead of purchasing tokens directly from Aave, they were raised from the secondary market. While the purchase amount and the dollar size of the investment were not disclosed, Payward indicated that it may make additional purchases in the future.
Gurpreet Oberoi, Payward’s head of asset management and corporate services, said the investment reflects their long-term belief in on-chain lending markets and DeFi. Oberoi also noted a growing demand from clients to invest in infrastructure in this area.
Aave Labs founder Stani Kulechov stated that working with Payward is a strategic step in reaching more individual and corporate users with Aave.
Aave Group shares were also discussed in a broader transaction that the parties considered in June. However, today’s announcement only detailed token purchases. The statement noted that Aave has approximately $33 billion in net deposits and $11 billion in active loans.
*This is not investment advice.
