Ether.fi is migrating its non-custodial card and digital cash account product, ether.fi Cash, to OP Mainnet. This strategic shift will move approximately 70,000 active cards and 300,000 user accounts onto Optimism's infrastructure.
The move transitions significant user value from Scroll to OP Mainnet, positioning it as a key hub for payments and consumer crypto activity. Ether.fi Cash allows users to convert fiat to crypto, earn yield through DeFi, and spend globally via a Visa-accepted card, all managed within a non-custodial wallet.
This product processes approximately 2,000 internal swaps and 28,000 daily spend transactions. Data indicates ether.fi accounts for over a quarter of total spending volume across crypto cards.
Optimism highlights that ether.fi brings one of the fastest-growing crypto payment products to its platform, processing $2 million in daily payment volume while simplifying DeFi for users. The OP Stack is designed to support scalable, secure tech stacks for such products.
Optimism has managed large ecosystem migrations previously, ensuring a seamless transition for users. As an OP Enterprise customer, ether.fi receives enhanced support and integration access.
This migration underscores Ether.fi's broader protocol, which secures roughly $5.7 billion in total value locked, and signals a strategic move to establish OP Mainnet as a liquidity and settlement hub for consumer-focused DeFi applications.