Nash has announced plans to integrate the Aave liquidity protocol into its platform. With the integration, Nash users can earn a yield on Aave-supported cryptocurrencies.
Aave is a decentralized, open source, non-custodial liquidity protocol offering lending and borrowing services. Depositors earn interest by providing liquidity to lending pools, from which borrowers can obtain loans with different interest rate options.
The integration of Aave aligns with the Feb. 2021 announcement that Nash is focusing on combining traditional financial offerings with non-custodial blockchain services. One of Nash’s new products is a high-yield savings account powered by DeFi. As part of this new direction, Nash leadership have identified a potential opportunity:
We believe there is a big gap in the market: digital banking services that make access to DeFi as simple as depositing funds in a savings account. To achieve this, Nash will integrate multi-currency bank accounts and connect them to DeFi-powered earnings built on Aave!
Looking forward, Nash intends to list the AAVE token for trading on its non-custodial exchange.
The announcement can be found at the link below: