Overview
- Founder Mario Baxter Cabrera joins Aave Labs as Director of Product, bringing his engineering team with him.
- Stable Finance’s standalone app will be phased out as its technology is integrated into Aave.com and future tools.
- Aave Labs frames the move as advancing its goal to make onchain finance into everyday finance, according to founder Stani Kulechov.
- Financial terms of the acquisition were not disclosed.
- The deal follows earlier talent-led buys of Sonar in 2022 and Family in 2023, alongside the recent Horizon launch that has drawn over $300 million in deposits.