Kraken parent company Payward and its clients buy AAVE tokens, expanding DeFi investment footprint

Odaily: Kraken parent company Payward and its asset management clients have purchased an undisclosed amount of AAVE tokens through the secondary market, further expanding their footprint in decentralized finance (DeFi) and asset management. The purchase was completed through Payward's affiliated investment fund Digital Asset Special Investments I, LP and its asset management clients. Payward stated that it may continue to increase its AAVE holdings in the future.

Payward and Aave are also exploring future collaboration opportunities. Sources familiar with the matter said that Payward chose to buy tokens from the secondary market rather than directly from Aave, reflecting alignment of interests between both parties and paving the way for future cooperation. CoinDesk reported earlier in June that the two sides had discussed a transaction involving 250,000 AAVE tokens and a 15% equity stake in Aave Group, valued at $385 million at the time, but the latest announcement did not mention an equity transaction. (CoinDesk)