Deployments · platform by Aave Labs
Aave HorizonNew
A permissioned lending market, built on Aave's protocol, where qualified institutions borrow GHO, RLUSD or USDC against tokenised real-world assets as collateral, while anyone can supply those stablecoins for yield without needing institutional approval. Launched on Ethereum with Superstate's USTB and USCC and Centrifuge's JAAA as collateral, Circle's USYC named as coming soon. It became the largest RWA-backed lending market in DeFi, ending 2025 with over $570 million in deposits.
Live (limited) since 26 Aug 2025[1] — Permissioned borrowing for qualified institutions; unpermissioned supply of stablecoins. · Reviewed today
- Assets
- Undisclosed[1]Borrowable stablecoins (GHO, RLUSD, USDC) and tokenised RWA collateral (Superstate's USTB/USCC, Centrifuge's JAAA, Circle's USYC); Horizon issues no token of its own.
- Use cases
- Secured lending[1]
- Jurisdictions
- Global
Participants
- Aave LabsPlatform provider, Operator[1]United Kingdom
- Chainlink LabsTechnology provider[1]United States
- SuperstateCounterparty[1]United States
- CentrifugeCounterparty[1]Cayman Islands
- CircleCounterparty[1]United States
Assets
- Settles inUSD Coin (USDC)[1]
- Settles inRipple USD (RLUSD)[1]
- Takes as collateralInvesco Short Duration US Government Securities Fund (USTB)[1]
- Takes as collateralSuperstate Crypto Carry Fund (USCC)[1]
- Takes as collateralJanus Henderson Anemoy AAA CLO Fund (JAAA)[1]
Metrics
- over $570mDeposits · as of 31 Dec 2025[2]
Timeline
- Happened 26 Aug 2025 · Launch · recorded 8 Nov 2026Aave Labs launches Horizon on Ethereum with Superstate and Centrifuge collateral and GHO, RLUSD and USDC borrowing.[1]
Sources
- [1]Aave Horizon Launches — Aave Labs, 26 Aug 2025. Accessed 8 Nov 2026.B
- [2]Aave 2025 Year in Review — Aave Labs. Accessed 8 Nov 2026. Describes Horizon as the largest RWA-backed lending market in DeFi, ending 2025 with over $570m in deposits..B
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