Aave Labs' UK Units Gain FCA Registration to Run Crypto Exchange Services

Aave Labs said on May 28 that its UK subsidiaries, Push Labs Ltd. and Push Virtual Assets Ltd., were registered by the Financial Conduct Authority (FCA) to operate as cryptoasset exchange providers. The registration also permits electronic money issuance under the Electronic Money Regulations 2011, and Aave said the approvals support regulated payments infrastructure including stablecoin on- and off-ramps. Despite the update, AAVE was down about 5% over 24 hours to around $81 at the time of writing.