Ether.fi unveils all-in-one crypto neobank with stocks, loans

Ether.fi's Summer update adds tokenized stocks, metals, portfolio-backed loans, and global fiat rails, positioning its neobank app as a user-friendly alternative to traditional banks.

Ether.fi has unveiled a significant update to its non-custodial crypto neobank, introducing a comprehensive suite of features designed to rival traditional banking. The Summer release now enables users to save, earn, trade, borrow, and spend—all within a single, streamlined platform. Users can trade tokenized stocks, metals, and crypto assets directly in the app, though tokenized stocks and metals are not available to U.S. users. The integration of an Aave market on Optimism allows users to lend assets and borrow against their entire portfolio at competitive rates around 4%. Repayments are conveniently directed to the Cash card. The update also expands fiat payment options, supporting over 30 currencies and integrating Apple Pay and Cash App. Cardholders benefit from 3% cashback on purchases and automated ETHFI buybacks. With over 500,000 users, 150,000 issued cards, and a $2 billion annual transaction run rate, Ether.fi's redesigned app is less crypto-centric, aiming to attract a broader audience and position itself as a full-featured alternative to traditional banks.