CandleFocus Ether.Fi to Launch Visa 'Cash' Card on Scroll Network
2024-09-09
Author: Content Editor
Ether.fi, known for its liquid restaking service, is partnering with Scroll, a layer 2 network on Ethereum, to launch a blockchain-based credit card called Ether.fi Cash. The card allows users to spend fiat currency while using their crypto assets as collateral, enabling them to earn yield while making everyday purchases. The card is currently in use internally at Ether.fi and will start shipping to pre-order customers soon. Scroll aims to enhance transaction efficiency and provide crypto-based rewards for cardholders. Cash users will receive a 3% cash-back incentive on all transactions, and the card is designed to be compatible with mobile payment providers. Scroll was chosen as the settlement layer for Cash due to its potential to reduce gas fees and enable gasless transactions. The card will initially be available in countries such as the UK, Hong Kong, and Brazil, but not in the United States. Ether.fi and Scroll hope to appeal to non-crypto users with Cash, offering a better credit card product rather than just a better crypto product.
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