- Ether.fi Cash offers 8% cashback and uses Scroll for faster, cheaper crypto-backed transactions with no gas fees.
- Pre-order Ether.fi Cash by Sept. 20, 2024, to get 3% cashback on all purchases and $50 cashback on the first $1,000 spent.
- Ether.fi Cash is a credit card, not a debit card, providing flexibility to spend anywhere VISA is accepted, plus DeFi rewards.
Ether.fi has partnered with Scroll to launch Ether.fi Cash, a blockchain-based credit card. The collaboration aims to make Scroll the settlement layer for transactions, enabling faster and more efficient crypto-backed purchases. Early card users may be eligible for bonuses as much as 8% cashback.
Pre-orderers who place their orders by September 20, 2024, will receive 3% cashback on all purchases in addition to an extra $50 incentive on the first $1,000 spent. Unlike pre-loaded debit cards, Ether.fi Cash is a credit card that lets customers spend money anywhere VISA is accepted. Additionally, it integrates seamlessly with Apple Pay, expanding its use across digital platforms.
Gasless Transactions and DeFi Integration
Moreover, the partnership with Scroll enhances transaction efficiency, providing gasless transactions through Scroll’s zero-knowledge rollup. This layer 2 Ethereum solution will reduce gas fees, making purchases cheaper for cardholders. Users can hold onto their crypto, using it as collateral while earning yield, which introduces an attractive DeFi element.
However, the card will not be available in the United States due to the uncertain regulatory environment surrounding decentralized finance (DeFi). Instead, it will launch in regions like the UK, Hong Kong, Turkey, Brazil, and several European countries, including France and Germany.
Exclusive Perks for Chad and Whale Cardholders
Furthermore, Ether.fi Cash promises exclusive perks for Chad and Whale cardholders, including conference passes for Token2049 in Singapore. As Scroll’s co-founder Sandy Peng explains, “It’s genuinely a better credit card product,” appealing to both crypto enthusiasts and traditional users.
While crypto-backed credit cards have been attempted before, Ether.fi Cash might finally bridge the gap between crypto and mainstream finance. With no complicated restrictions, it offers unmatched rewards for both crypto and non-crypto users. Ether.fi and Scroll hope this collaboration will push the card into the global financial mainstream, providing significant value through blockchain technology.
