Aave Labs Launches Savings App With 9% APY and $1M Insurance Coverage

Aave Labs introduced a mobile savings application on November 17, 2025, designed to compete with traditional banks and fintech platforms. The app offers annual interest rates up to 9% and insurance protection covering deposits up to $1 million. Users can fund accounts through stablecoins, bank transfers, or debit cards, with interest accruing continuously around the clock.