Ether.fi, the innovative restaking protocol that has successfully transitioned into a neobank, is making waves with its latest offering: Ether.Fi Hotels. With an impressive $6.8 billion in user deposits, Ether.fi now empowers users to book luxury hotel accommodations around the globe using their Ether.fi Cash cards.
This bold pivot to neobanking, announced last month, integrates traditional banking services with cutting-edge decentralized finance (DeFi) features, including yield generation via Ethereum restaking. This strategic move positions Ether.fi at the forefront of the evolving financial landscape.
The launch of Ether.Fi Hotels comes in collaboration with Entravel, a prominent travel booking platform that boasts thousands of hotel brands worldwide. Users can not only book their desired stays but also enjoy a generous 5% cash back on every transaction made with the Ether.fi Cash card.
Mike Silagadze, CEO of Ether.fi, articulated the company’s vision, stating, “This integration brings us one step closer to making crypto usable in everyday life. Ether.fi Cash already allows users to spend, borrow, and earn on their crypto—now they can travel the world with it, too.” This sentiment reflects the ongoing commitment to enhancing users’ experiences by bridging the gap between cryptocurrency and daily transactions.
According to data from Dune Analytics, Ether.fi’s Cash product is currently managing a robust $25 million in user deposits. Impressively, $3.8 million has already been spent, and users have earned $109,000 in cash back rewards, demonstrating the effectiveness of this innovative financial product.
As Ether.fi continues to shapeshift the financial landscape by blending traditional banking with modern blockchain capabilities, the introduction of Ether.Fi Hotels marks another milestone in its journey to enhance the usability and appeal of cryptocurrency in everyday life.
