Announced on Sept 9th, Ether.fi Cash will partner with Scroll, a layer 2 network on Ethereum.
Together, they aim to bring this innovative credit card to market. Let’s discover more about this new Visa ‘Cash’ Card.
Ether.fi Cash Partners with Scroll for Innovative Visa Card
The Ether.fi Cash card is currently in internal use at Ether.fi and is slated to ship to pre-order customers starting September 16th.
The collaboration with Scroll aims to enhance transaction efficiency and provide a range of crypto-based rewards. Sandy Peng, co-founder of Scroll, highlighted the card’s potential savings for users of the Aave lending platform. She noted that users who deposit Ethereum into Aave and use the card could find it the most cost-effective credit card available.
Source: X
According to Ether.fi’s press release, the card offers a 3% cash-back reward on all transactions, with no restrictions. The Visa credit card is designed to integrate with mobile payment providers like Apple Pay, making it convenient for everyday use.
More About Visa ‘Cash’ Card
Scroll’s zero-knowledge roll-up technology on Ethereum will serve as the settlement layer for the card. This setup allows Ether.fi Cash to offer DeFi lending and borrowing features. This will enable users to leverage their crypto assets for purchases.
Source: X
However, the card will not be available in the United States, likely due to the regulatory uncertainty surrounding DeFi in the country. The initial rollout will focus on a “tentative” list of countries including the UK, Hong Kong, UAE, Thailand, Brazil, Turkey, France, Germany, Italy, Portugal, Spain, Denmark, Estonia, Netherlands, Poland, and Czech Republic.
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