EtherFi Opens EtherFi Cash Candidate List

Media reports that EtherFi has launched the candidate list for EtherFi Cash, the third component of the EtherFi suite, aimed at enabling users to spend and borrow with their EtherFi balance. The cash consists of a mobile wallet connected to a Visa credit card, where users can borrow dollars with their EtherFi assets or directly convert them into dollars. EtherFi rewards can also be used to clear outstanding balances. The goal of EtherFi Cash is to eliminate the need for cryptocurrencies in daily transactions. The Visa card is expected to be shipped in September. In addition, EtherFi plans to launch an L2 solution to enhance payment processing and dispute resolution for cash. Currently, EtherFi is the largest liquidity reset protocol managing over $5 billion TVL.