Aave Pay Releases New Cryptocurrency Payment App to Pay for Utility Bills

The cryptocurrency industry is quite far from actualizing its global takeover as currency or assets of value. The main use of cryptos at the moment is speculation and trading but the industry players are pushing for more adoption with newer, more efficient technologies to ease the transition. The latest news hail from Landon based blockchain and fintech startup, AAVE, who are launching the AAVE Pay app to allow users to pay utility bills.

AAVE is the company behind the ETHLend project that allows users to get loans with digital assets as collateral. The company announced the addition of Bitcoin as collateral to the platform a week after gaining the license in Estonia.

The AAVE Pay Is Launched!

The announcement made on the official website of the platform early in the week revealed the AAVE Pay feature was available for use across the world. The app allows the users to use digital assets in their day to day lives by providing a crypto-to-fiat conversion instantly through bank transfers. Some of the utility bills being tested by the company include paying salaries, income taxes and other organizational expenses.

The application is available to Android and iOS users and a web version is also available for the users wanting to access from their desktops. The platform currently allows the exchange of fiat to crypto pairs on the exchange including six fiat currencies i.e. US Dollar (USD), Euro (EUR), Swiss Franc (CHF), British Pound (GBP), Indian Rupee (INR) and the Australian Dollars (AUD).

The exchange has 12 cryptocurrencies to choose from including Bitcoin (BTC), Ethereum (ETH), Dash (DASH), Monero (XMR), Cardano (ADA), Ripple (XRP), Dai (DAI) and ETHLend (LEND).

The CEO and founder of AAVE, Stani Kulechov, praised the AAVE Pay app as it allows the daily spending of cryptocurrencies boosting adoption of digital assets. Speaking on the latest development by the AAVE platform, Stani said,

“This new application eliminates the obstacles of using crypto in our everyday lives. It addresses crypto’s expendability problem and builds a bridge for crypto to cross over into mainstream use.”

Furthermore the Chief Operations Officer at AAVE, Jordan Lazaro Gustave added on the importance of the AAVE app. He concluded on the future of the company saying they are focusing on improving the way users interact with cryptocurrencies.


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