Liquid restaking protocol ether.fi has unveiled its tie-up with Ethereum L2 scaling network Scroll to roll out a crypto-native credit card.
Details
- ether.fi Cash is a Visa credit card designed to let users pay with their crypto assets
- The degen-themed card has various tiers called Pepe, Wojak, Chad, and Whale
- The Cash spending account and Visa credit card will allow users to spend and borrow against their ether.fi balance
- According to the specifics mentioned on the website, Cash will also include a mobile app to connect to users’ ether.fi account
- Scroll will be the settlement layer of real-world transactions for ether.fi Cash
Why should you pay attention?
- Using crypto in real life is not a cakewalk, but now, users can load their ether.fi balance on the card and use it for everyday purchases
- Cash is a real Visa credit card, fully integrated with mobile payment services like Apple Pay
- The DeFi integration with the card will help users use their crypto as collateral, borrow against it to make purchases with the card, and automatically pay the balance off with native yields
- Scroll’s partnership will help create an efficient and secure lending and borrowing market for ether.fi Cash
Who said what?
- The Scroll team said,
“Whether it's a coffee, a hotel stay, or a flight, you can hold onto your crypto while leveraging it to do more than ever before.”
The ether.fi team highlighted,
“Unlike pre-loaded debit cards others offer, Cash is an actual credit card. The card can be used anywhere VISA is accepted.”
- Scroll’s zk-Rollup tech reduces gas fees significantly, enabling gasless transactions for all ether.fi Cash users. Elaborating on similar lines, the team added,
“Our decision to build on Scroll allows us to offer our users a faster, cheaper, and more rewarding on-chain meets real-world experience. ether.fi Cash is designed to meet your needs and exceed your expectations.”
In other related news
- Last month, MetaMask, along with Mastercard and Banxx pilot launched a crypto debit card
- Via this card initiative, MetaMask also intends to enable users to use their self-custodied crypto assets for everyday purchases in fiat currency in any part of the world where Mastercard is accepted
- Only a few thousand digital-only cards had been issued for the pilot to users in EU countries and the UK
- The card is expected to become more widely available later this year
