Aave Labs, the company behind the DeFi project Aave, said it has acquired Stable Finance, a San Francisco-based startup dedicated to simplifying on-chain savings operations for everyday users. Terms of the transaction were not disclosed. The move brings Stable founder Mario Baxter Cabrera and his engineering team to Aave Labs, where they will help develop new DeFi products for consumers. Cabrera will join as product director. Aave Labs founder Stani Kulechov said the acquisition reinforces the company's goal of integrating "on-chain finance into everyday finance." Stable's technology will be integrated into future Aave Labs products, and its existing applications will be gradually phased out. This acquisition is Aave's third talent-focused deal, following the acquisitions of Sonar in 2022 and Family in 2023, as it continues to expand its product design capabilities. (CoinDesk)