Aave launches an iOS application offering up to 6.5% annual return, with an onboarding process designed for the general public through credit or bank accounts. The goal is to establish DeFi as a credible alternative to neobanks.
The protocol relies on protection up to $1 million and the proven infrastructure of Aave to surpass the typical returns of money market funds.
The application is part of a wave of DeFi products aimed at the mainstream, supported by the strategic acquisition of Stable Finance.
Aave App Launches on Apple’s App Store
Aave launches an application that bridges the gap between crypto and mainstream finance. A bold promise from the start: an annual return of up to 6.5% on a product designed as a digital savings account. The application debuts on Apple’s App Store with an already open waitlist. The objective is clear: attract the average user with a seamless experience, a standard onboarding process via credit or bank account, and the ability to directly use stablecoins.
The message to the crypto market is clear: DeFi no longer wants to be isolated; it wants to compete with traditional neobanks.
A Game-Changing Return
The announced return exceeds that of traditional American money market funds that typically dominate the secure savings spectrum. Aave leverages its robust lending protocol infrastructure to generate this rate. The application also includes balance protection up to $1 million, a feature intended to reassure users who are hesitant to step outside their traditional banking framework.
This positioning is significant. Amid rising interest rates, stagnant banking products, and growing public appetite for simple investments, Aave is casting a wide net. Very wide.
An Industry Under Rapid Transformation
Major DeFi protocols are increasingly entering traditional financial services. ETHFI recently unveiled an American Express-style payment card. Mantle launched a neobank app called UR that even offers access to Swiss bank accounts. The movement is massive: blockchain giants are now creating products that anyone can download, understand, and use within minutes.
Behind this offensive lies a vivid memory. Centralized lending platforms like Celsius or BlockFi popularized easy returns during the 2020-2021 bull run before collapsing in 2022. These crashes cooled the market and paused enthusiasm for ‘yield apps.’ Aave is playing a different card: transparency, auditable technology, on-chain security.
A Strategy Fueled by Key Acquisition
To enter the mainstream savings arena, Aave recently acquired the fintech Stable Finance, based in San Francisco. Their mission: develop an application perfectly tailored to traditional consumer expectations. The group has the means to achieve its ambitions with $70 billion in cumulative deposits and a base of 2.5 million active users.
This expansion demonstrates how thin the line between crypto and traditional finance has become. The coming months will reveal if Aave can convert public interest into widespread adoption. One thing is certain: the DeFi sector has decided not to wait for users to come to it. It is going to them.
