Ether.fi shifts non-custodial crypto card product to OP Mainnet from Scroll

Ether.fi is migrating its DeFi-native credit card product, ether.fi Cash, to OP Mainnet, according to a Wednesday announcement.

“Over the coming months, ~70,000 active cards, ~300,000 accounts, and millions in user TVL are moving to Optimism,” the release reads. 

Ether.fi, initially focused on the once-buzzy world of asset restaking, reportedly began working on ether.fi Cash in 2024.

Ether.fi Cash offers a non-custodial way for users to spend their stablecoin balances directly or borrow staked and restaked assets like eETH as collateral for spending while earning yield. Like traditional cards, ether.fi also offers cashback rewards.

Ether.fi cards, accepted anywhere Visa is, have become the dominant crypto-native payment card option, accounting for nearly half of all transactions, according to The Block’s data.

Meanwhile, the OP Stack processed 3.6 billion transactions in the second half of 2025, representing 13% of all crypto transactions during that period, the blog said. 

Notably, Base, the Coinbase-incubated Layer 2 built on the OP Stack, accounted for a significant share of Optimism’s annual volume. Base is now pivoting away from the OP Stack to build a bespoke chain platform. 

By launching on OP Mainnet, Ether.fi says it will have increased liquidity for swaps within a larger DeFi ecosystem, access to more assets for deposits and withdrawals, and the ability to cover gas fees, according to the blog.

Ether.fi Cards will migrate from the current base on Scroll, a ZK-powered Ethereum Layer 2 blockchain that has been a significant player in the crypto card space, largely on the back of Ether.fi, according to The Block’s data.

The core Ether.fi restaking protocol, meanwhile, has historically operated primarily on the Ethereum mainnet.

“For end users, the transition will be seamless,” Ether.fi notes. “Optimism has supported major ecosystem migrations in the past, and provides a secure and robust process designed to avoid disruption.”

Ether.fi currently has about $5.7 billion in total value locked, according to The Block’s data. Token holders passed an Ether.fi Foundation proposal to use up to $50 million worth of token treasury assets to conduct ETHFI token buybacks when the market price dips below $3.