Aave Labs Subsidiaries Win United Kingdom Approval for Crypto and Payment Services

Aave Labs said its U.K. subsidiaries Push Labs Ltd. and Push Virtual Assets Ltd., operating as Push, have been registered by the Financial Conduct Authority as cryptoasset exchange providers under anti-money laundering rules. Combined with an existing FCA authorization under the Electronic Money Regulations 2011 to issue electronic money, the approvals give the firm a dual-permissioned structure to build regulated fiat-to-crypto infrastructure in the U.K. Aave Labs said its immediate goal is a zero-fee on- and off-ramp that allows users to move funds directly from a bank account into Aave without leaving the app. The company said the approvals expand a broader European regulatory push that includes a MiCA Crypto-Asset Service Provider license granted in November 2025 to its Irish subsidiary, Push Virtual Assets Ireland Ltd., by the Central Bank of Ireland, unlocking passporting rights across the European Economic Area. The report also notes that Aave Labs is the primary contributor to Aave, described by The Block’s data dashboard as the largest onchain credit market by total value locked, and that the Aave DAO approved a $25 million funding grant for Aave Labs in April as the firm rolled out Aave V4 and the GHO stablecoin.