Aave Labs has secured a Crypto-Asset Service Provider (CASP) authorization from the Central Bank of Ireland for its subsidiary, Push. The license, granted under Europe's new Markets in Crypto-Assets (MiCA) regulation, allows Aave Labs to introduce zero-fee fiat on- and off-ramps for its native GHO stablecoin and other stablecoins across its European services.

This development makes Aave Labs one of the first major DeFi platforms to operate within the comprehensive European regulatory framework. By providing a frictionless and regulated bridge for users to convert cash into stablecoins, Aave is strategically positioned to attract capital and users as MiCAR's stringent rules for stablecoin issuers come into full effect.

While this new service provides a regulated entry point into the ecosystem, Aave Labs clarified that the core Aave Protocol will remain decentralized, permissionless, and globally available. The MiCAR authorization applies exclusively to the centralized on- and off-ramp services offered by Push.

This development comes amid broader trends in tokenized assets, where traditional finance increasingly intersects with blockchain. Regulators across Europe have hailed MiCAR as a balanced approach, fostering innovation while mitigating risks like those exposed in past crypto collapses.

Read More:
https://aave.com/blog/aave-micar-approval