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Aave Labs has become one of the first major decentralized financial projects to receive authorization under the Markets in Crypto-Assets (MiCA) framework of the European Union, paving the way for the company to operate regulated stablecoins on ramps and off-ramps throughout the European Economic Area.
Key tips:
- Aave Labs has secured MiCA authorization, allowing Push to operate euro-to-crypto stablecoin ramps across the EU.
- The approval strengthens Ireland’s position as a leading center for complete finance on the chain.
- Aave aims to offer a regulated alternative to centralized exchanges and expand stablecoin infrastructure across Europe.
U approval allows Pushthe fiat-to-crypto service of Aave Labs, to provide conversions of euros into digital assets, including the over-collateralized native stablecoin of the GHO protocol.
Authorization has been granted by the Central Bank of Ireland to Push Virtual Assets Ireland Limited, a wholly owned subsidiary responsible for Aave’s European operations.
Ireland is strengthening its role as a European center for regulated finance on the chain
The move reinforces Ireland’s growing status as a regulatory center for comprehensive onchain finance, coming shortly after Kraken also secured MiCA approval in the country on June 25.
The milestone comes during a period of accelerated growth in the global stablecoin market. The total supply will exceed $300 billion in 2025, with CoinGecko tracking the sector at $312 billion at the time of writing. The demand for reliable, fiat-linked crypto-assets has driven institutional and retail interest in regulated exchange pathways.
With MiCA authorization in hand, Push will offer regulated on-and-off euro ramps for GHO and other stablecoins integrated into Aave’s product ecosystem.
Aave Labs said the service will launch with zero conversion fees, positioning it competitively against fintech companies and centralized exchanges that typically charge significant spreads or processing fees.
However, the company did not clarify whether the zero-fee structure will remain permanent or serve as an introductory incentive.
Aave Labs has framed a comprehensive payment infrastructure as essential to bring mainstream users into decentralized finance.
By offering a predictable and regulated path between the euro and crypto-assets, Push aims to reduce dependence on centralized exchanges, long considered one of the biggest chokepoints in DeFi onboarding.
The approval marks the first time a native DeFi organization has operated a fiat bridge licensed under Europe’s most comprehensive crypto regulatory framework.
The Aave ecosystem continues to generate significant activity. According to DefiLlama, the protocol handled $542 million in volume in the last 24 hours, and users currently have more than $22.8 billion in loan assets in their loan pools.
The MiCA authorization now positions Aave Labs to expand its stablecoin infrastructure across Europe, strengthening the project’s role in regulated, onchain finance.
ESMA points out gaps in Malta’s Crypto License
In July, ESMA raised concerns about Malta’s crypto licensing processfollowing a peer review by the Malta Financial Services Authority (MFSA).
While acknowledging that the MFSA has adequate staffing and sector expertise, the review found that Malta only “partially met expectations” in its authorization of a crypto-asset service provider (CASP), with several material issues left unresolved during the approval phase.
The review, initiated in April 2025 by ESMA’s Peer Review Committee, focused on the MFSA’s supervisory setup, authorization procedures and supervisory tools.
ESMA emphasized that consistency among EU member states is essential under the MiCA regulatory framework, which seeks to standardize how crypto companies are licensed and supervised across the bloc.
