ether.fi Unveils Tokenized Stocks, Portfolio Borrowing, Fiat Transfers

ether.fi has released its Summer update, which includes tokenized stock trading, portfolio-wide borrowing, and global fiat transfers. The protocol, often referred to as a 'defibank', has been shifting its focus all year. ether.fi's staking arm holds $3.34 billion in assets, according to DefiLlama data.

The update also includes an integrated Aave market on Optimism, allowing users to borrow against their entire portfolio at rates around 4%. This is part of the protocol's goal to replace traditional banks for most users and provide benefits previously available only to institutions and high-net-worth individuals.

Users can now borrow against their portfolio using the Cash card or buy other assets. The dedicated Aave instance ether.fi has asked for is still in governance, but an ARFC followed on July 14, setting out next steps that require an AIP vote for final confirmation.