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Aave Labs Secures Dual FCA Licenses for U.K. Crypto Payments Infrastructure

GateNews
Partnerships & Ecosystem
AAVE0.75%
According to Aave Labs, its U.K. subsidiaries Push Labs Ltd. and Push Virtual Assets Ltd. received approval today from the Financial Conduct Authority to register as cryptoasset exchange providers. The subsidiaries also hold an existing FCA authorization under the Electronic Money Regulations 2011 to issue electronic money, providing a dual-permissioned regulatory framework. The approvals enable Aave Labs to offer full-stack fiat-to-crypto infrastructure in the U.K., with an immediate focus on launching a zero-fee on- and off-ramp allowing users to transfer funds directly from bank accounts into Aave without leaving the app.
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