Ether.Fi to Launch Visa ‘Cash’ Card with Crypto Collateral on Scroll Network
Ether.Fi is launching a Visa credit card allowing users to spend fiat while borrowing against their crypto assets, earning 3% cash-back.
Key points:
- Crypto-backed Visa card: Ether.Fi introduces a Visa credit card that lets users borrow against crypto collateral.
- Scroll network partnership: The card will operate on Scroll’s Layer 2 network, enhancing transaction efficiency.
- 3% cash-back: Users earn 3% cash-back with no restrictions on all purchases.
- Gasless transactions: Scroll’s infrastructure will reduce or eliminate gas fees for cardholders.
- Global rollout: Launching Sept. 16, the card is available in several countries, excluding the U.S.
Ether.Fi and Scroll Team Up for Crypto-Backed Credit Card:
Ether.Fi, known for its liquid restaking services, is releasing a Visa ‘Cash’ card.
The card allows users to borrow against their crypto while spending fiat. In partnership with Scroll, a Layer 2 network on Ethereum, Ether.Fi aims to make transactions smoother and cheaper.
Launching on September 16, the card offers 3% cash-back on all purchases, with no hidden conditions. Scroll will power Ether.Fi Cash’s DeFi features, letting users use their crypto as collateral for spending.
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Scroll’s technology also enables gasless transactions, reducing the cost of using the card. The card aims to attract even non-crypto users by offering a simple way to access crypto-backed lending.
Although the card won’t be available in the U.S. due to regulatory challenges, it will be launched in countries like the UK, Hong Kong, and Germany.
