Ether.fi will issue its own stablecoin, ether.fi USD, using Ethena’s white-label infrastructure. The largest liquid restaking protocol on Ethereum completes its neobank product range with a digital dollar whose interest generated by reserves will stay within the ecosystem. Over 300 million dollars in stablecoins are deposited on Ethena, and the Ether.fi Cash card has nearly 1 billion dollars in spending and over 100,000 active cards. In 2024, the USDC issuer generated approximately 1.7 billion dollars in revenue from interest on reserves, while Tether announced 13 billion dollars in profits over the same period, illustrating the scale of the rent Ether.fi aims to capture.
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