Ether.fi, a decentralized finance platform known for Ethereum staking, announced Thursday that it has added trading of tokenized assets, wallet-backed loans and fiat currency accounts to its self-custody app.
The new integrated marketplace uses the Aave decentralized lending protocol on the Optimism network. Through it, users can lend assets, take out loans using the wallet as collateral without selling positions, and send or spend the proceeds.
The fiat accounts accept deposits and withdrawals in more than 30 currencies and payment methods worldwide. Access depends on completing the identity verification required for the Ether.fi payment card, and deposit and withdrawal speeds may vary.
Expansion of assets and rewards
According to Ether.fi founder and CEO Mike Silagadze, the assets initially available include Ethereum, Bitcoin, Hyperliquid and ETHFI, the platform's governance token. He said the company plans to quickly add new assets as collateral.
The platform also announced automatic ETHFI buybacks and 3% cashback on card purchases. Ether.fi says it has more than 500,000 members and US$ 2 billion in annual transaction volume.
Availability and positioning
The new features are available to new and existing users, but trading of tokenized stocks and metals is not available in the United States and some other markets.
Silagadze said loans against the entire wallet and real-world assets (RWAs) could attract people who do not yet use decentralized finance. "Being able to borrow against the whole wallet and loop RWAs should be popular," he said.
The executive also said the expanded platform aims to replace the traditional bank for most users. "Our goal is to replace the traditional bank for most users and give them tools and benefits that were previously exclusive to institutions and high-net-worth individuals," he said.
