Ether.fi’s CASH product, a Visa-linked DeFi protocol allowing users to spend directly from self-custodied vaults, has crossed 800 million dollars in cumulative spend as of early September 2026, with roughly 600 million dollars generated in 2026 alone. Q1 2026 saw 170 million dollars in spend volume, a 35% jump from the previous quarter, with nearly 10 million transactions processed and an average transaction size below 100 dollars. The platform currently supports approximately 70,000 active cards and 300,000 accounts, numbers that grew significantly after migrating to Optimism OP Mainnet in February 2026. In Q1 2026, CASH accounted for 26% of Ether.fi’s total revenue, up from 14.2% in Q4 2025, demonstrating this is not a loss-leader marketing exercise.
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