Crypto neobanks like Ether.fi have launched features to compete with traditional banks. The project’s latest release now includes trading in tokenized stocks and metals, portfolio borrowing via Aave, expanded global fiat payments, and automated buybacks of its ETHFI tokens into a single app.
Ether.fi CEO Mike Silagadze stated that the addition of tokenized equities and commodities trading alongside crypto assets marked a significant step towards bridging the gap between decentralized finance (DeFi) and everyday financial needs. The goal is to replace the traditional bank for most users with tools previously available only to institutions and high-net-worth individuals.
The app now supports up to 3% cash back and no top-up fees, accepting over 30 currencies including Apple Pay and Cash App, making it more accessible and convenient for a wider user base. However, specific details on user adoption rates and acceptance of new features remain uncertain, particularly concerning the availability of tokenized stocks in certain markets like the U.S.
Written by Oliver Grant
Markets Desk
