Avara Acquires Ethereum Self-Custody ‘Family Wallet’ and Rebrands to Aave Companies

Aave Companies Rebrands to Avara to Expand Web3 Ecosystem

Decentralized finance (DeFi) group Aave Companies has been rebranded to Avara as it looks to broaden its crypto wallet user base across the Web3 ecosystem.

Stani Kulechov, founder and CEO of Avara (formerly Aave Companies), tells Cointelegraph that the company’s growing number of offerings, including liquidity protocol Aave, the GHO stablecoin, Lens Protocol and Sonar, necessitated an umbrella brand with broader Web3 appeal.

Kulechov adds that the broader crypto industry has focused on building infrastructure to enable the development of crypto.com products that appeal to a wide user base. The rebrand marks the beginning “of a new era” where blockchain technology and AI technology becomes more “accessible, usable and fun.”

The Avara founder adds that the company’s new identity is inspired by the Finnish word “Avara,” which carries a number of definitions, including “extensive,” “open,” “spacious” and “inclusive.” Its colloquial use means “seeing more than you see.”

Crypto Latest Now: Aave Labs, Family Wallet, and Lens Protocol

Kulechov has announced that Aave will continue to be developed under the same brand name through Aave Labs and will keep its focus on contributing to technological advancements in the DeFi space.

The news of the rebrand coincides with the acquisition of Los Feliz Engineering (LFE) and its consumer-focused Ethereum wallet, Family Wallet. This strategic move means that Avara now has a full suite of products that enable users to send, receive, swap, and store cryptocurrencies.

In addition, the acquisition also includes ConnectKit, a developer library developed by Family Wallet to facilitate connectivity between the wallet service and decentralized applications. LFE’s team, including its CEO and founder Benji Taylor, will be joining Avara. Taylor will be taking up the role of senior vice president of product and design.

Avara is hoping to use LFE’s experience in building the messaging application Honk to further develop Lens Protocol. As Cointelegraph reported, Lens Protocol is a social layer for the Web3 ecosystem that connects users across a decentralized social network and provides developers with the tools to create applications and communities.