ETHER.FI CASH EMERGES AS LEADING CRYPTO NEOBANK

Summary from the TLDR Crypto newsletter

Ether.fi Cash has become the breakout winner in crypto neobanking by collapsing wallets, yield, and card spending into a single non-custodial Visa product that lets users borrow against staked and restaked assets, earn 5–10%+ DeFi yield, and get 3% cashback while never fully exiting crypto. Backed by Ether.fi's ~$7–11.5 billion restaking ecosystem, Cash has processed over $114 million in spend, paid nearly $5 million in rewards, and reached ~5,500 daily active cards. Metrics like $66,000 annualized spend per active user suggest a strong product–market fit. A “Triple Dip” rewards program that ties together vault deposits, card spend, and bank on-ramps acts as a reflexive growth engine, positioning Ether.fi Cash as the leading non-custodial alternative to fintech-style crypto cards and a blueprint for on-chain neobanking.