TechFlow reports that ether.fi, a liquid restaking service provider, has announced a collaboration with Ethereum Layer 2 network Scroll to launch a blockchain-based credit card called Ether.fi Cash. The card enables users to use fiat currency for spending by pledging crypto assets as collateral, while continuing to hold their cryptocurrencies and earn yield.
The ether.fi Cash card is scheduled to begin shipping to pre-registered customers on September 16. It will be issued as a physical Visa credit card, compatible with mobile payment providers such as Apple Pay, and will offer unlimited 3% cashback rewards.
Ether.fi Cash will not be available in the United States initially, but plans to launch in multiple countries including the UK, Hong Kong, and the UAE.
Previous report, ether.fi plans to launch its Visa credit card ether.fi Cash in September, which will allow users to borrow USDC stablecoin.
