Nov 5, 2026, 9:00 a.m. EST
2 min read
Summary
- Payward and its customers purchased an unannounced quantity of AAVE tokens via the secondary market.
- The arrangement grew out of prior discussions that involved both tokens and equity; the update on Thursday focuses solely on token acquisitions.
- The move broadens Payward’s asset management initiatives, with both organizations investigating potential future partnerships.
Payward, the parent organization behind cryptocurrency exchange Kraken, alongside its customers, has secured an undisclosed volume of AAVE tokens, broadening its strategic push into decentralized finance and asset management.
The acquisitions were executed through a Payward-associated investment vehicle named Digital Asset Special Investments I, LP, together with its asset management clients, according to a Thursday disclosure.
The digital assets were acquired on the open secondary market, and the Wyoming-headquartered Payward indicated that additional acquisitions could take place. Furthermore, Payward and Aave are investigating prospects for joint cooperation going forward, the official release noted without providing further details.
Acquiring tokens through the market instead of a direct purchase from Aave serves as an “indication of alignment” between the two enterprises and “sets the stage for future cooperation,” an individual acquainted with the situation informed CoinDesk.
The arrangement has evolved since CoinDesk initially broke news of the discussions back in June. That previous proposal encompassed 250,000 AAVE tokens alongside a 15% common equity share in Aave Group based on a valuation of $385 million. The Thursday announcement made no reference to equity.
This financial commitment furthers Payward’s objective to establish an asset management division encompassing digital assets, structured yield, and tokenized investments. The corporation has structured its wider growth strategy around four key pillars: trading, banking, asset management, and Payward Services, which delivers financial infrastructure to banking institutions, fintech firms, and alternative platforms. This approach pushes its operations beyond traditional crypto trading commissions and into investment products, payment solutions, and services linked to customer holdings.
“This acquisition demonstrates our enduring belief in onchain credit markets and decentralized finance, alongside rising interest from our customer base for exposure to the underlying architecture driving modern finance,” remarked Gurpreet Oberoi, vice president of asset management and institutional business at Payward, in the official communication.
Aave enables participants to deposit digital currencies to accumulate interest and secure loans using collateral managed via blockchain smart contracts. The protocol currently holds approximately $33 billion in net deposits alongside $11 billion in active borrowings, based on the statement. Token holders of AAVE possess voting rights regarding protocol governance and treasury management.
“Collaborating with Payward represents a calculated move toward introducing Aave to the upcoming generation of retail and institutional participants,” stated Stani Kulechov, founder and CEO of Aave Labs, within the publication.
This strategic move unfolds amid heightened merger and acquisition activity as cryptocurrency entities scale their operations into payment processing, derivatives, and tokenized financial securities.
Originally published at https://www.coindesk.com/business/2026/11/05/kraken-parent-payward-and-its-clients-buy-aave-tokens-in-defi-investment-push.
