ether.fi, a crypto neobank, is migrating its services from the Scroll blockchain to Optimism’s OP Mainnet to take advantage of enhanced payment capabilities and enterprise-grade support.
ether.fi, a crypto neobank with a total value locked of $5.7 billion, said in an X article that it is migrating from the Scroll blockchain to Optimism’s OP Mainnet.
The move aims to capitalize on Optimism’s OP Enterprise to enhance global payments capabilities, access liquidity and established users, and provide enterprise-grade support, according to the company’s blog.
The migration is significant given Ether.fi’s large user base, numbering around 50,000 active cards, according to Cipher Research.
ether.fi offers a digital cash account and card product known as ether.fi Cash, which integrates DeFi features such as fiat-to-crypto flow, yield earning, and a non-custodial wallet.
Previously, ether.fi was hosted on Scroll, the 12th largest layer 2 solution for Ethereum, with approximately $100 million in TVL.
Scroll’s SCROLL token is down 2.3% and Ether.fi’s ETHFi is down 3.6%.
This article was generated using AI workflows.
