Repeated Protocol Ether.fi said it is planning to add banking services, making it a decentralized finance (Defi) Neobank.
The Ether.fi app gives users the experience of a traditional fintech app, so that they can spend money, save and earn through linked cryptof functions, including repetition. The app allows invoice payments and payroll administration with the help of FIAT money.
“With Ether.fi we bridge the gap between decentralized finances and daily financial needs,” said CEO Mike Silagadze in a statement. “Our goal is to offer users a robust, user -friendly platform that offers the benefits of Defi without the complexity, making financial freedom accessible to everyone.”
One of the functions under the hood will be Ether.fi’s Cornerstone Resting Product, which offers investors the possibility to secure an extra yield by placing Ether (ETH) and receiving liquid reinforcement sticks (LSTs) that can be set over the Defi -Ecosystem.
Last month, Coindesk reported on how ether.fi was one of the few repairing protocols that managed to retain the total value (TVL), despite the sector that ran a draw into the hype of the past year.
It currently has 2.7 million ETH ($ 4.4 billion) in TVL, according to Defillama an almost record high in ETH terms.
Cash cards in the US
In September, Ether.fi announced the release of his own visa “Cash” card, with which cardholders can spend Fiat -currencies while they use crypto as collateral.
This product, as well as the expansion service, is now available in the US, despite the fact that both have been separated earlier due to legal requirements.
In the first instance, it will be available in selected States according to a number of partnerships with local entities to guarantee compliance with the regulations.
