$ETHFI
Ether.fi transforms into a 'crypto version of Alipay', is the staking king going to take down traditional banks? A new contender emerges in the staking arena.
Just yesterday (April 24), Ethereum's staking leader Ether.fi dropped a deep-water bomb — announcing its transformation into a new type of crypto bank (Neobank) and officially launching a Visa co-branded cash card and one-stop staking service for U.S. users. This move directly connects 'on-chain Wall Street' with 'offline consumption', and with $4.4 billion TVL (Total Value Locked) backing, crypto giants are finally ready to seize a piece of the traditional finance pie!
One card, two worlds: Buy coffee with staked ETH!
The cash card launched by Ether.fi can be described as a hybrid of 'DeFi version of Huabei + Yu'e Bao':
• Staking equals credit: Users generate liquid staking tokens eETH after depositing ETH, which can be used directly as collateral to exchange for USDC for consumption, allowing them to swipe the card without selling their tokens, and the on-chain earnings can automatically pay off the bills;
• Interest rates crush credit cards: APR is directly linked to the DeFi market (approximately 5-8%), much more appealing than the 15-30% annual interest rates of traditional credit cards;
• All scenarios integrated: The app integrates savings, payroll distribution, bill payments, and even allows users to set up an 'ETH investment plan', automatically converting salary to eETH for interest, definitely a blessing for on-chain workers.
This design clearly targets the pain point of 'crypto natives not wanting to cash out', with founder Mike Silagadze stating: 'Ideally, users should never need to withdraw from the blockchain!'