According to Bloomberg, Stani Kulechov, the founder of decentralized lending platform Aave, purchased a five-story mansion worth 22 million pounds ($30 million) in the upscale Notting Hill area of London.
The entrepreneur bought the luxury property in November for about £2 million below the guide price, Bloomberg reported, citing agents involved in the sale.
Kulechov is a Russian-born Finnish lawyer who founded Aave in 2017 as ETHLend. The platform aspires to be the backbone of next-generation credit services and not just leverage for cryptocurrencies, with over $50 billion in assets parked on its marketplace.
Kulechov has been a champion of the UK and Ireland as possible cryptocurrency hubs. He recently welcomed UK tax authority HMRC’s approach to DeFi lending protocols that locking up cryptocurrencies as collateral will not create a taxable event.
A spokesman for Aave did not immediately respond to a request for comment.
