Ether.fi transforms into a new DeFi bank and launches cash cards in the United States

PANews reported on April 24 that, according to CoinDesk, re-staking agreement Ether.fi announced that it plans to increase banking services to make it a new DeFi bank. The platform application will integrate traditional banking services and encryption functions, support users to conduct daily financial operations such as bill payment and salary payment through fiat currency, while retaining its core re-staking products - users can obtain liquid staking tokens (LST) through pledging ETH and obtain additional benefits in the DeFi ecosystem.

Last September, Ether.fi announced the launch of its own Visa “Cash” card, which will allow cardholders to use cryptocurrency as collateral to consume fiat currencies. Previously, the product and pledge services were restricted due to regulatory requirements, but it has now been launched in the United States. Initially, the product will be launched in selected states and a range of partnerships with local entities to ensure compliance with regulatory requirements.