Ether.fi, the Ethereum-based decentralized finance platform known for staking, announced its Summer release on Thursday, rolling out a next-generation neobank suite that includes tokenized asset trading, portfolio-backed loans, and global fiat accounts. The upgrade is designed to let users manage savings, earning, trading, borrowing, and spending from a self-custodial app, with CEO Mike Silagadze saying the goal is to replace the traditional bank for most users.
The new features integrate Aave on the Optimism Ethereum scaling network. Users can lend assets, borrow against their portfolios without selling holdings, and send or spend the proceeds. The platform initially supports existing crypto assets including Ethereum, Bitcoin, Hyperliquid, and the native governance token ETHFI, alongside select tokenized stocks and gold. Ether.fi said it will quickly add more assets as collateral. Tokenized stock and metals trading will not be available to U.S. users and certain other markets due to regulatory restrictions.
Fiat accounts add support for more than 30 currencies and payment methods such as Cash App and Apple Pay. The company said deposits and withdrawals will be available to users who complete identity checks required for its payment card. Additional rewards include automated ETHFI buybacks and 3% cash back on card purchases. Ether.fi reported more than 500,000 members and a $2 billion annual transaction run rate, while carrying around $3.5 billion in total value locked as of August 2026.
Silagadze said portfolio-backed loans and tokenized real-world assets could attract people who do not already use decentralized finance. The platform generates over $219 million in annualized fees and more than $50 million in revenue, with a share of new product revenue set aside for ETHFI buybacks. At the time of the announcement, ETHFI traded around $0.38, with the expanded user base and programmatic buybacks seen as potential price catalysts.
