Ether.fi transfers the crypto card product from Scroll to OP Mainnet

Ether.fi announces it will transfer its original DeFi credit card product, ether.fi Cash, to the OP Mainnet in the near future. According to the latest announcement, approximately 70,000 active cards, 300,000 accounts, and a significant amount of user TVL will be migrated to the new ecosystem over the next few months.

Ether.fi initially started as a protocol focused on asset restaking and began developing ether.fi Cash in 2024. This product allows users to spend stablecoins directly in a non-custodial model or borrow against staked assets and restaked assets like eETH to spend while continuing to generate yields. Similar to traditional cards, users also receive cashback when using the card.

Ether.fi cards are accepted at all payment points supporting Visa and are currently the leading crypto-native payment card option, accounting for nearly half of all transactions in this segment according to market data.

According to the project’s blog, the OP Stack technology suite processed approximately 3.6 billion transactions in the second half of 2025, representing 13% of the total crypto transactions in the same period.

A significant portion of this volume comes from Base — a Layer 2 network supported and built by Coinbase on top of OP Stack. However, Base is now shifting towards developing its own customizable blockchain platform instead of remaining fully dependent on OP Stack.

Deploying on the OP Mainnet allows Ether.fi to expand swap liquidity within the larger DeFi ecosystem, access more asset types for deposits and withdrawals, and offer more flexible gas fee support for users.

Previously, Ether.fi cards operated on Scroll — an Ethereum Layer 2 utilizing ZK technology, which played an important role in the crypto payment card sector, largely driven by Ether.fi’s traffic.

Ether.fi’s core restaking protocol still primarily operates on the Ethereum mainnet. The project states that the transition to the OP Mainnet will be seamless for end users, with migration processes already tested through multiple ecosystem upgrades.

Currently, Ether.fi has approximately $5.7 billion in total value locked. The token holder community has also approved a proposal from the foundation fund to use up to $50 million of treasury assets to buy back ETHFI tokens when the market price drops below $3.

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