ETH Declares Aave Ecosystem As Its New Parent Company

ETH Declares Aave Ecosystem As Its New Parent Company

ETHLend recently declared Aave as its parent company. This means that henceforth, ETHLend will have an association with all the blockchain-based products native to Aave including gaming and lending. Nolvia Serrano, CMO of ETHLend, informed the community of ETHLend about his company’s new parent based in Switzerland.

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Serrano discussed the contributory role that the decentralized application (dApp) of ETHLend will play among the ecosystem of Aave.

Change in parent company will not alter ETHLend’s Stand

Even though Aave is the new parent company of ETHLend, it will not change the mission and aspirations of the project. ETHLend will continue to function as a decentralized financial marketplace based on Ethereum (ETH) offering peer-to-peer loans backed by digital assets. Importantly, there will be no change in the top-level executive positions of C-level officers.

Jordan Lazaro Gustave, Stani Kulechov, and Serrano will continue as COO, CEO, and CMO respectively at ETHLend. However, the platform is adding two new members to its team, Ville Valkonen as CCO and Mika Soyring as CFO. Mika previously worked at Revenio Group Corporation, a health technology company as CFO. He has worked extensively as a financial specialist and as an entrepreneur. Ville ran a legal consulting firm in Finland focused on start-ups. Integration with Aave will introduce some new aspects to the organizational structure of ETHLend project.

Aave founder express gratitude towards ETHLend team

The founder of Aave, Stani Kulecho expressed gratitude towards the team of ETHLend and the community immediately after the expansion news went public. Kulecho thanked the community for their patience and dedication during the period, the integration process with his Swiss technology company took place.

According to Stani Kulechov, “By integrating our innovative technology into the services already offered by traditional institutions, we can transform the way people interact and provide new products and services that will help them seamlessly achieve their goals at a lower cost, ultimately giving them access to new opportunities that have not been possible before.”

Aave aims to boost its existing products and also will add new ones targeting Generation Z and millennials. The current line-up of products of Aave includes Aave Pocket, ETHLend, Aave Lending, Aave Clearing, Aave Custody, and Aave Gaming.

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