Aave Companies rebrands to Avara, acquires crypto wallet Family to expand web3 ecosystem

Aave Companies, a software technology firm focused on Web3, is changing its name to Avara, according to founder Stani Kulechov. The company, which supports Aave Labs, Aave Protocol, and other entities, has over $8.66 billion in liquidity locked across eight networks and 15 markets. Avara has acquired Los Feliz Engineering, the team behind Ethereum-based crypto wallet Family, to help users enter the Web3 ecosystem. The rebrand and acquisition reflect Avara's desire to expand beyond DeFi and bring Web3 to all users globally with different use cases.