EtherFi Cash relaunches as crypto neobank with Aave V4 backend

EtherFi Cash has launched the next generation of its crypto neobank across Web, iOS and Android. New features include tokenized stocks and metals trading and an integrated Aave V4 market on Optimism, letting cardholders borrow against their full portfolio.

EtherFi is deploying a dedicated Aave V4 instance on Optimism to power the card's credit backend, reporting $22M in active borrowing, a $500M lending capacity target by 2027, and 70K cardholders spending against their crypto without selling. Cardholders can borrow against PAXG, SPYx, WBTC, ETH and ETHFI, with more collateral types to come.

Some features, including tokenized stock and metal trading, are not available in the US and select markets. Partners named include Optimism, Aave, XStocksFi, Plume Network, Across Protocol, EnsoBuild, Paxos and others.