Ether.fi Expands to Tokenized Stocks, Metals, and Fiat On/Off-Ramps

Ether.fi has expanded its DeFi platform to include tokenized stocks and metals, portfolio-backed loans, and fiat on/off-ramps. The 'Summer release' upgrade was launched on August 13.

The centerpiece of the update is xStocks, which allows users to trade tokenized versions of traditional equities and metals within the Ether.fi app. This means users can hold ETH staking positions, tokenized Apple shares, and gold exposure in the same self-custody vault without needing a separate brokerage account.

The platform has also introduced a dedicated Aave V4 market on the Optimism network, enabling users to borrow against their entire portfolio at around 4% interest rates. Additionally, deposits now work with over 30 currencies, and users can spend directly through the Ether.fi Cash card, which offers cashback rewards.

Ether.fi has over 500,000 members and is running at close to $2 billion in annual transaction volume. The company has also implemented a programmatic buyback mechanism for the ETHFI token, funded directly by product revenue.