Aave Labs

DeFi-native overcollateralized stablecoin

London, UK

GHO about $584M market cap

sGHO yield variant at 4.25% APR; Aave V3 TVL $26.8B+ across Ethereum, Arbitrum, Base, and Gnosis

DeFi protocol governed by Aave DAO

UK-incorporated operating entity; no centralized charter

Horizon institutional RWA market live with about $550M net deposits

sGHO launched; GHO V2 rebuild completed in Apr 2026

AllUnity

MiCAR multi-currency stablecoin JV

Frankfurt, Germany

EURAU and CHFAU live on Ethereum, Solana, Stellar, and Arc testnet

Multi-bank reserve model

BaFin E-Money Institution licence

MiCAR-compliant stablecoin issuer

EURAU launched in Jul 2025 as Germany’s first MiCAR-compliant EUR stablecoin

CHFAU launched in Feb 2026 as first…