View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
February 28, 2019

Aave unveils app to support bill payments through crypto

Technology firm Aave has introduced an app, which will enable consumers to pay bills through virtual currency.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

Dubbed Aave Pay, the new app can be used to pay employee salaries, taxes, as well as other commercial or corporate expenses into fiat accounts directly.

It can be used wherever bank transfer is accepted and is compatible with mobile phone and web.

The app supports Bitcoin, Ethereum, Cardano, Ripple, Monero, Litecoin, Zcash, Dash, Lumen, Bitcoin Cash, DAI and LEND.

To use the app, consumers first need to choose the cryptocurrency, amount of fiat currency to be transferred along with the recipient’s IBAN.

The app then calculates a competitive exchange rate, while notifying the user regarding the final cost and automatically sending the payment.

Aave CEO and founder Stani Kulechov said: “This new application eliminates the obstacles of using crypto in our everyday lives.

“It addresses crypto’s spendability problem and builds a bridge for crypto to cross over into mainstream use.”

Aave COO Jordan Lazaro Gustave added: “We are taking the concept of holding cryptocurrencies further, in a way that has not been done before, breaking the paradigm that cryptocurrencies are only assets people invest in and cannot be used as traditional currencies.”

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International