Aave Founder Stani Says Securities-Backed Lending Expands to All Asset Classes
Aave founder Stani stated that Aave is expanding the market from crypto assets to all asset classes through securities-backed lending.
Brokerages like Robinhood and Charles Schwab typically retain 50%-85% of stock lending fees, with the global securities lending market valued at approximately $4.6 trillion, generating over $35 billion in annual revenue mostly captured by brokerages; tokenized stocks through Aave V4 can return the full lending yield directly to users, offering advantages of real-time transparency, dynamic pricing, no re-collateralization, and no intermediary cuts.
In terms of market mechanisms, DeFi users and stockholders become the main beneficiaries, with event-driven funds flowing into Aave's securities lending, benefiting the Aave platform and tokenized assets, while traditional brokerages face pressure.
Source: Public Information
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Aave previously focused on crypto lending, and this expansion continues its strategy of penetrating traditional financial assets, with earlier upgrades like V4 reflecting a path of cross-chain and RWA integration.
In terms of capital pathways, Aave V4 is designed to return complete yields to users, with the strategic motive being to attract traditional asset holders, shifting resources from crypto pools to securities collateral and tokenization infrastructure.
Similar to other DeFi protocols entering traditional lending, Aave is currently in the scaling phase for RWA, with the advantages of securities lending challenging the brokerage commission model.
Essentially, this represents capital concentration, where tokenization and DeFi lending replace traditional brokerage models, with mechanisms that lower costs through transparent yields and the absence of intermediaries, leading to a concentration of pricing power on user-friendly platforms and driving the global lending industry chain towards blockchain reconstruction.
ABAB News · Law of Cognition
Lending Efficiency = Yield Transparency × Dynamic Pricing × No Intermediary Cuts
Brokerages sell commissions, DeFi sells complete yields; whoever tokenizes stocks controls the $4.6 trillion market.
The higher the traditional commission, the better DeFi performs; counterintuitively, securities lending accelerates the concentration of tokenized asset capital.