PANews reported on April 24 that according to CoinDesk, the re-pledge protocol Ether.fi announced its plan to add banking services to make it a new DeFi bank. The platform application will integrate traditional banking services with encryption functions, supporting users to use fiat currency for daily financial operations such as bill payments and salary payments, while retaining its core re-pledge product - users can obtain liquid pledge tokens (LST) by staking ETH and obtain additional income in the DeFi ecosystem.
Last September, Ether.fi announced the launch of its own Visa “cash” card, which will allow cardholders to spend fiat currency using cryptocurrencies as collateral. Previously, the product, as well as staking services, were limited due to regulatory requirements, but now it has been launched in the United States. Initially, the product will be launched in selected states and has established a series of partnerships with local entities to ensure compliance with regulatory requirements.
