The Leading Bitcoin ATM Operator Continues to Pioneer the Decentralized Finance Space with Aave’s Unique Lending Protocol
CoinFlip, the leading Bitcoin ATM provider in the U.S., announces today that Aave token (AAVE) is now listed across its 2,500-terminal network. Aave launched in 2017 to explore the potential of leveraging the Ethereum blockchain for use in loans and borrowing of crypto assets. As crypto use continues to change and see more mainstream adoptions, this initiative is further foundation for CoinFlip’s goal of bringing crypto to the masses, and continuing to help crypto grow into a responsible form of currency.
Users will now be able to buy AAVE, the governance token of the DeFi protocol of the same name, that is best known for facilitating collateralized lending. AAVE token holders are able to take part in Aave protocol’s governance and receive reduced fees when using the protocol. The Aave project is one of the biggest projects in terms of Total Value Locked (TVL) in the DeFi space and allows users to both lend and borrow in over 25 different cryptocurrencies and vote on changes to the protocol.
“The burdens of the financial system go beyond equitable access to checking and savings accounts or even physical banking and ATM locations; access to financial tools such as loans impact unbanked and underbanked individuals’ ability to fully participate in the economy,” said Ben Weiss, CEO and Co-Founder of CoinFlip. “The idea that our customers can now invest early in one of the largest decentralized projects on the market is a major step forward in our mission to make cryptocurrency more accessible to people everywhere.”
CoinFlip’s listing of AAVE follows the recent announcement of the company’s immense growth over the last year. More than tripling their ATM network, CoinFlip ranked #1 in Crain’s annual Fast 50 list of Chicago’s most rapidly growing companies, recognized for their 1,715,091.9% growth over 5 years and $50.6 million revenue in 2020. The company is confident that with the addition of AAVE, more consumers will be able to benefit from blockchain technology and cryptocurrency in their everyday lives.