Aave Labs’ Push Wins FCA Registration for UK Stablecoin Ramps

Push Labs Ltd. and Push Virtual Assets Ltd., subsidiaries of Aave Labs operating as Push, were registered by the Financial Conduct Authority as cryptoasset exchange providers on May 12. The registration covers certain cryptoasset activities under the UK’s Anti‑Money Laundering regime and allows Push to develop regulated stablecoin on‑ and off‑ramping infrastructure in the UK.

Push describes its service as a way for users to convert euros and stablecoins without fees or spreads. The platform offers non‑custodial on‑ and off‑ramping: stablecoins are transferred directly to users’ crypto wallets while bank‑to‑wallet and wallet‑to‑bank flows are supported. Push is currently available to residents of Ireland and plans to expand across the European Economic Area.

Aave posted on X about the registration and its product plans, stating: “Aave Labs is building for the next million users, and regulated products with zero‑fee stablecoin on/off‑ramping are necessary to do it.” Competing services include Coinbase’s zero‑fee USDC transfers on Base and providers such as Ramp Network, Bleap and Alchemy Pay.

Earlier this year the Aave protocol’s decentralized autonomous organization approved funding for Aave Labs, granting $25 million in stablecoins and 75,000 AAVE tokens to accelerate development and attract builders.

The FCA’s online register shows Push’s entry. The regulator has stated that firms registered under the current Money Laundering Regulations will not automatically receive full authorization under the Financial Services and Markets Act crypto regime, which is scheduled to take effect in October 2027. Push’s registration permits the firm to operate under current rules while preparing for the FSMA framework.

The registration allows Push to pursue euro‑to‑stablecoin and stablecoin‑to‑bank flows in the UK and to negotiate relationships with banks and payment processors as it expands services in the region.