Key Takeaway:
– Ether.fi partners with Scroll to launch a new Visa-enabled credit card and wallet app.
– The collaboration aims to enable a lending and borrowing market for the credit card.
– Ether.fi Cash card offers up to 8% cash back on everyday purchases.
– Ether.fi is the fourth-largest decentralized finance protocol with over $5.5 billion locked value.
Borrow and lend
Ether.fi has announced a partnership with Scroll to introduce a new Visa-enabled credit card and wallet app. This collaboration will facilitate a lending and borrowing market for the new credit card, allowing users to access fiat credit using their cryptocurrencies as collateral.
Onchain meets real-world experience
Working with Scroll enables Ether.fi to provide users with a faster, cheaper, and more rewarding onchain meets real-world experience. The Ether.fi Cash card offers up to 8% cash back on everyday purchases and rewards users with cash back on their crypto holdings. It functions as a true credit card, capable of supporting online and in-store transactions.
Total value locked
Ether.fi currently holds the position as the fourth-largest decentralized finance protocol, with a total value locked of over $5.5 billion. According to DeFiLlama, the platform’s TVL reached $6.9 billion in July, showcasing substantial growth and adoption within the DeFi space.
