Ether.fi, one of the leading crypto neobanks, has announced its Summer release, representing the next generation of its fintech product suite. The expansion introduces tools for savings, earning, trading, borrowing, and seamless spending, with the goal of replacing traditional banking services.

The Summer release leverages the capabilities of decentralized systems, going beyond simply replicating traditional financial services by offering functionality that extends past conventional finance. The updated platform will incorporate the latest trends in on-chain trading, including tokenized stocks, metals, and the most actively traded crypto assets. Tokenized real-world assets have grown into one of the largest emerging sectors in decentralized finance, with protocols bringing exposure to commodities and equities onto blockchains where they can trade around the clock. The user-facing app will also integrate Aave, one of DeFi's most established lending protocols, enabling users to lend their assets and borrow against their portfolios as collateral.

"With ether.fi, we're bridging the gap between decentralized finance and everyday financial needs," said Mike Silagadze, CEO of Ether.fi. "Our goal is to replace the traditional bank for most users and give them tools and benefits that were previously available only to institutions and high-net-worth individuals. That is the power of DeFi and self-custody."

Ether.fi users will gain access to new fiat rails, allowing them to send assets globally and use their own named accounts. The app will integrate over 30 new fiat currencies and additional payment methods, including Cash App, Apple Pay, and others.

Summer Release Aims to Boost Ether.fi Adoption

The neobank expansion is designed to reach a much broader audience, the company announced. The features have been simplified so they do not require specialized crypto knowledge. Ether.fi also stated that its app would go beyond speculative use cases and high-risk trading, instead offering a more balanced exposure to assets while maintaining on-chain security.

The new release arrives at a time when other on-chain services are pivoting toward fintech, using existing platforms to offer globally accessible markets for various asset types. The shift reflects a broader industry pattern in which DeFi protocols are layering consumer-facing financial products—cards, payments, savings—on top of their existing infrastructure to compete directly with incumbent digital banks. Ether.fi, one of the leading Web3 lending protocols, currently works with card issuers and partners to expand its consumer-facing fintech products. As of August 2026, the platform holds $3.5 billion in value locked and stands to boost its collateral value by including tokenized metals, equities, and other assets.

What Ether.fi's Summer Update Includes

The latest feature update moves Ether.fi closer to its goal of operating as a full crypto neobank. Users will experience a seamless fintech app that retains access to the existing crypto liquidity ecosystem. The app will integrate xStocks, one of the most liquid and widely adopted forms of tokenized equities in the crypto space, which represents shares of publicly traded companies as on-chain tokens.

The platform offers the benefits of self-custody, lower fees, and a rewards program for DeFi users. The services are designed to be integrated — a user can borrow against the value of their portfolio at a 4% rate, then use the Cash card to send funds, spend, or purchase other assets.

In addition to trading, borrowing, and lending, users will benefit from programmatic ETHFI buybacks. ETHFI traded around $0.38 as of August 13. Ether.fi generates over $219 million in annualized fees and over $50 million in revenue. A share of all new product revenues will be allocated to ETHFI buybacks.

Additional benefits include 3% cash back on purchases made with the Cash card, zero top-up fees on the card, and zero forex swap fees at higher membership tiers. The Summer update functionalities are available to all new and existing users immediately. Some features, including trading on tokenized assets, may not be available in the United States and other regions.