EtherFi Teams Up with Scroll to Launch EtherFi Cash Visa Credit Card

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Scroll as the Settlement Layer
  2. Expanding Access and Crypto Rewards
  3. EtherFi’s Rapid Growth


    4. EtherFi has announced the release of the EtherFi Cash Visa credit card in collaboration with Scroll, an Ethereum Layer 2 network powered by zero-knowledge technology.

    Scroll as the Settlement Layer

    Scroll will serve as the settlement layer for EtherFi Cash transactions. As a zero-knowledge rollup network, Scroll enhances transaction speed and efficiency, making it a crucial partner for this credit offering. Scroll is currently the sixth-largest Ethereum Layer 2 network with a total value locked (TVL) of $1.1 billion, according to L2beat. The Cash card will allow users to tap into Scroll’s technology, ensuring fast, low-cost transactions with crypto-backed rewards, according to the EtherFi team.

    Expanding Access and Crypto Rewards

    EtherFi Cash is available for preorder in several countries, including the UK, Hong Kong, UAE, and various European nations. However, the card won’t be available in the US for the time being. Interested parties can preorder across four tiers, with annual fees ranging from 0.01 ETH ($23) to 1 ETH ($2,300). Higher-tier cardholders benefit from lower interest rates and exclusive perks. Cardholders will benefit from a 3% cash-back reward on all purchases, with no restrictions. These rewards are earned in cryptocurrency, in line with EtherFi’s vision of creating a comprehensive DeFi ecosystem. With EtherFi's Stake and Liquid programs, users can borrow funds against Ether staked or deposit funds in curated vaults.

    EtherFi’s Rapid Growth

    EtherFi has amassed over $5.6 billion in TVL, making it the fourth-largest DeFi protocol. The growth was fueled by a rally in Ethereum prices and renewed interest in liquid restaking tokens (LRTs). The protocol pioneered the LRT boom, eliminating technical barriers and allowing users to participate in native restaking via EigenLayer while remaining liquid. Now, EtherFi’s Cash product adds to its existing portfolio, which includes its Stake and Liquid programs. On September 16, EtherFi Cash will begin shipping to pre-order customers, marking a milestone for the protocol.

    The significant growth and development of new products such as EtherFi Cash highlight EtherFi's commitment to innovations in financial technology. The collaboration with Scroll and efforts in expanding access to crypto services reflect their mission to create a more efficient and accessible financial system.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Cross River Bank Integrates Ripple's RLUSD Stablecoin for Enhanced Payment Solutions

Cross River Bank integrates Ripple's RLUSD stablecoin to enhance payment solutions for fintech customers.

user avatarTomas Novak

Stocklinked Tokens in DeFi Surge to $2.624 Billion

Stocklinked tokens in decentralized finance reached approximately $2.624 billion by the end of September 2026, marking an 18-fold increase from the beginning of the year.

user avatarKaterina Papadopoulou

Fidelity's Assessment Highlights Solana's Improved Reliability

Fidelity's assessment indicates Solana has operated for over two years without major outages, achieving a 99.7% vote success rate, but warns of concerns regarding validator concentration.

user avatarMaya Lundqvist

BitTorrent Unveils New Whitepaper and Brand Upgrade for Web3 and AI

In October 2023, BitTorrent unveiled a comprehensive brand upgrade and a new whitepaper outlining a tripartite architecture for decentralized content distribution and compute, aiming to enhance operational efficiency for Web3 and AI applications.

user avatarLeo van der Veen

JUST Completes Fifth Buyback and Burn of JST Tokens

JUST has successfully completed its fifth buyback and burn of JST tokens, burning over 170 million tokens.

user avatarLi Weicheng

JST Buyback Program Achieves Major Milestone

The JST buyback program has successfully completed one year of operation, burning approximately 188 billion JST tokens across five rounds, resulting in a 300% increase in JST's price.

user avatarAisha Farooq

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.