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Aave Labs launches licensed stablecoin on/off-ramp service in Europe
Aave Labs is about to launch a free on and off-ramping stablecoin service, including GHO, on its products in the European Economic Area (EEA) through the new Push service.
This service is operated by Push Virtual Assets Ireland Limited, a subsidiary of Aave Labs, which has been licensed as a crypto service provider (CASP) by the Central Bank of Ireland under the EU Digital Assets Market Regulation (MiCAR). This helps Aave Labs become one of the first DeFi innovators in Europe operating under the new legal framework.
With the MiCAR license, Push will provide regulated, safe, and free on/off-ramp stablecoin services, allowing users to easily convert between euros and digital assets according to the new standards for consumer protection and transparency.
Aave Labs chooses Ireland as the EEA operational hub to build legal compliance roadmaps, connecting users to DeFi safely. The license only applies to services managed by Push, while Aave Protocol continues to operate in a decentralized and open manner on public blockchains.