In the last 24-hours Aave’s LEND token rallied to a new all-time high after surging 30% from $0.59 to $0.77. The strong upside move comes as (BTC) and most altcoins are in the red, having lost momentum as the United States dollar bounced.
The most recent rally seems to be driven by the news that the decentralized finance lending and credit protocol received an Electronic Money Institution (EMI) license from the United Kingdom Financial Conduct Authority (FCA). This allows Aave’s parent company, Aave Limited, to “issue electronic money (e-money) and provide payment services.”
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