Aave Labs’ UK-based subsidiaries Push Labs Ltd. and Push Virtual Assets Ltd.—collectively known as Push—have officially registered as crypto asset exchange providers with the UK’s Financial Conduct Authority (FCA). This registration grants Push the right to operate certain crypto asset activities in accordance with current Anti-Money Laundering regulations in the UK.
What FCA registration brings and Aave Labs’ next moves
This step significantly advances Push’s goal of launching a regulated stablecoin on/off-ramp platform in the United Kingdom. With FCA recognition, Aave Labs can now develop infrastructure that enables UK users to move stablecoins easily between their bank accounts and crypto wallets.
According to its homepage, the Push platform already offers simple conversions between euros and stablecoins. Public FCA records show the company has been registered since May 12.
With this regulatory clearance, Aave Labs’ UK subsidiary can now provide a regulated solution for buying and selling stablecoins, leveraging the decentralized lending protocol’s technology within the country.
The platform’s X account announced, “Aave Labs is building technology for the next million users, and zero-fee, regulated stablecoin on/off-ramps are a key part of that vision.”
The approval process comes as the UK prepares for robust digital asset regulations under the Financial Services and Markets Act (FSMA). These broader rules are expected to take effect by October 2027, after which all crypto firms wishing to operate in the UK must secure FCA authorization.
Push’s technical features and coverage
Push allows users to convert directly between bank accounts and crypto wallets, processing euros and stablecoins with no commission or exchange margin. The service is non-custodial: Push never has access to user funds, and transfers go straight to clients’ own wallets.
Currently, Push serves users in Ireland and is planning rapid expansion to other member states within the European Economic Area (EEA).
Quick glossary: On/off-ramp—In crypto, “on-ramp” refers to platforms that exchange traditional currencies (such as euros) for crypto assets, while “off-ramp” services convert crypto back into fiat money.
Push competes with platforms like Coinbase’s zero-fee Base onramp for USDC, Ramp Network, Bleap, and Alchemy Pay in the crypto-fiat gateway arena.
| Platform | Region | Commission | Supported Stablecoins |
|---|---|---|---|
| Push | Ireland, EEA | None | Various |
| Coinbase (Base/USDC) | USA, various | None | USDC |
| Ramp Network | Worldwide | Variable | USDC, USDT, etc. |
| Alchemy Pay | Various | Variable | USDC, USDT, etc. |
The role of Aave Labs in decentralized finance
Within decentralized finance (DeFi), Aave remains the largest lending protocol. According to DefiLlama data, it ranks second in the sector with a total value locked (TVL) of $13.6 billion.
In addition to the FCA green light, last month Aave Labs secured $25 million worth of stablecoins from its DAO’s “Aave Will Win” growth program, supporting platform expansion and ongoing operations. The DAO community also awarded Aave Labs 75,000 AAVE tokens to further protocol development.
