Aave Labs Cleared by MiCAR to Launch Zero-Fee Stablecoin On-Ramp in EU

• Aave Labs secures MiCAR approval to launch zero-fee stablecoin ramps across the EEA region.
• Global stablecoin supply passes $312B in 2025 as Aave expands regulated euro access.
• AAVE price drops despite the regulatory win as trading volume surges by more than 50%.

Aave Labs has secured a significant regulatory milestone in Europe after receiving formal authorization under the Markets in Crypto-Assets (MiCAR) framework, paving the way for zero-fee stablecoin on- and off-ramps across the European Economic Area (EEA). The approval enables its subsidiary, Push Virtual Assets Ireland Limited, to provide regulated euro-to-crypto conversions for GHO and other stablecoins used within the Aave ecosystem.

Push Becomes One of the First MiCAR-Authorized Stablecoin Ramps

The Central Bank of Ireland granted Aave Labs’ subsidiary a Crypto-Asset Service Provider (CASP) license, positioning Push among the earliest DeFi-linked companies operating legally under MiCAR. The authorization marks one of the first times a decentralized finance organization has launched a compliant fiat bridge within the EU’s comprehensive regulatory framework.

Source: X

Push will allow users across the EEA to convert euros into GHO and other integrated stablecoins with zero conversion fees. Aave Labs stated that the initiative is designed to remove longstanding barriers for users entering decentralized finance, where reliance on centralized exchanges has historically created friction and added costs.

Ireland has quickly become a preferred MiCAR hub. Kraken obtained similar authorization earlier in the year, reinforcing the country’s role as a regulatory gateway for compliant digital-asset platforms.

Stablecoin Market Surpasses $300 Billion as Access Broadens

The decision arrives during a period of rapid stablecoin expansion. Global supply has climbed above $310 billion in 2025, according to CoinGecko, reflecting strong demand for euro- and dollar-linked digital currencies across financial markets.

Aave already plays a major role in this landscape. The protocol processes heavy activity daily, including $603 million in volume over the past 24 hours, based on DefiLlama data. Borrowed assets across Aave’s markets currently exceed $22.7 billion, highlighting its position as one of the largest stablecoin-driven ecosystems in decentralized finance.

By offering a regulated, fee-free gateway between euros and stablecoins, Push aims to create a smoother entry point for users seeking predictable, compliant access to digital assets. Traditional financial apps and exchanges typically add spreads, withdrawal costs, or processing fees, charges that Push intends to remove entirely. Regardless, Aave Labs has not yet clarified whether this structure will remain long-term.

Regulated Access Without Changing the Protocol’s Core Design

The new authorization applies only to Push’s service. Aave Labs emphasized that the Aave Protocol itself remains decentralized, permissionless, and accessible worldwide. No changes are being made to its architecture or governance.

The introduction of a regulated fiat bridge provides users with two types of access: an open, globally accessible protocol on one side and a compliant European entry point on the other. This two-track structure aligns with MiCAR’s aim to balance innovation with oversight as member states build consistent digital-asset licensing regimes.

That consistency is still a work in progress; earlier this year, ESMA raised concerns about gaps in Malta’s crypto-asset authorization process, underscoring the need for harmonized supervision across the bloc.

Related: FDIC Builds Framework for Blockchain-Based Bank Deposits

AAVE Token Declines Despite Regulatory Milestone

The positive regulatory news has not yet strengthened AAVE’s market performance. The token is trading near $179, down 16% over the past day and 30% over the past month. A four-day losing streak followed the token’s failure to break above $236, a level reached on November 2 that has since acted as a firm ceiling.

Source: TradingView

AAVE now eyes the $176 zone, a support level watched closely by traders. A clear move below this region could open the way to the $155–$163 range. Despite the drop, trading activity has intensified. AAVE’s market cap sits near $2.74 billion, while its 24-hour volume jumped above $643 million, a rise of more than 50%, indicating a surge in participation amid heavy selling pressure.