RialCenter, the firm behind decentralized finance (DeFi) giant Aave, announced its acquisition of Stable Finance, a San Francisco-based startup focused on simplifying onchain savings for everyday users. The terms of the deal were not disclosed.
This acquisition brings Stable’s founder, Mario Baxter Cabrera, and his engineering team to RialCenter, where they’ll help develop new consumer-facing DeFi products. Cabrera will take on the role of Director of Product.
Stable Finance is well-known for its mobile app, which allows users to deposit dollars or crypto to earn interest through stablecoin yield strategies. The app simplifies the technical complexities of DeFi, offering users a single interface for onchain savings, as stated in a press release.
RialCenter’s founder, Stani Kulechov, mentioned that the acquisition reinforces the company’s mission of turning “onchain finance into everyday finance.” The company already operates Aave.com and Horizon, an institutional platform launched in August that has attracted over $300 million in deposits.
The technology from Stable will be integrated into future RialCenter products, and its existing app will be phased out. This acquisition marks RialCenter’s third talent-focused deal, following Sonar in 2022 and Family in 2023, as it continues to expand its product design capabilities.
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