Aave Arc is the permissioned DeFi liquidity pool service that Aave has launched for financial institutions today, according to the DeFi platform. This new service is compliant with Anti-Money Laundering (AML) regulations.
Participating financial institutions will also be required to undergo KYC validation. Fireblocks is the first active whitelister for DeFi’s permissioned liquidity pool service.
Fireblocks recently announced the popularity of decentralized finance markets and stressed the need for strict KYC/AML regulations. Fireblocks users who are willing to be whitelisted through a KYC process will have access to Aave and Fireblocks security.
“DeFi represents a powerful wave in financial innovation, including transparency, liquidity, and programmability. It’s been too difficult for traditional financial institutions to access it for far too long. These institutions can now participate in DeFi compliantly with Aave Arc,” Stani Kulechov (Founder and CEO of Aave), stated.