DeFi giant Aave (LEND) rallies 40% after receiving UK FCA approval
Cointelegraph
Published Aug 25, 2020 01:29PM ET
Updated Aug 25, 2020 03:00PM ET
In the last 24-hours Aave's LEND token rallied to a new all-time high after surging 30% from $0.59 to $0.77. The strong upside move comes as Bitcoin (BTC) and most altcoins are in the red, having lost momentum as the United States dollar bounced.
The most recent rally seems to be driven by the news that the decentralized finance lending and credit protocol received an Electronic Money Institution (EMI) license from the United Kingdom Financial Conduct Authority (FCA). This allows Aave’s parent company, Aave Limited, to “issue electronic money (e-money) and provide payment services.”
Continue Reading on Coin Telegraph
Get The News You Want
Written By: Cointelegraph
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.