August 24, 2020 Aave was granted Electronic Money Institution License by U.K. regulators.

The U.K. branch of DeFi borrowing and lending protocol Aave has been granted an Electronic Money Institution License by the country’s financial regulator, the Financial Conduct Authority. The project will focus on debuting new features, including those intended to decentralize protocol governance, in the U.K.. However, CEO Stani Kulechov has stated that the project will seek licenses in other European countries to aid in the onboarding of new users.