TL;DR:
- ether.fi migrated its non-custodial crypto card to OP Mainnet, the largest single TVL event in the network’s history, reaching $220M.
- The full migration took three days with no service interruptions, keeping all 70,000 cards and 300,000 accounts active throughout the process.
- Next up are the launch of Gold Vaults, a euro-denominated card, and the expansion of DeFi integrations on top of OP Mainnet’s infrastructure.
ether.fi, the largest non-custodial crypto card protocol in the market by spending volume, completed its migration to OP Mainnet in three days. The platform moves $220 million in total value locked, operates 70,000 active cards and has 300,000 accounts registered. The Optimism Foundation played an active role in the transition, covering bridge engineering, oracle support, asset metadata and the operational coordination behind a fully live product. Not a single card went offline during the process.
The core product is Ether.Fi Cash, a card with full Visa network support, instant settlement and global reach. What sets it apart from any traditional card is that every deposited dollar generates on-chain yield. Points programs and interest charges stay on the conventional banking side; the real blockchain-based economy stays on the user’s side.
Infrastructure at Scale for Mass Spending
The decision to migrate to OP Mainnet responded to concrete business requirements. For a product that settles real payments every day, latency, fees and uptime are essential metrics. OP Mainnet operates with average fees of $0.00001, finality below 250 milliseconds via Flashblocks, a throughput of 20 Mgas/sec with a projected path toward 100 Mgas/sec, and 99.99% uptime. Data feeds are powered by Pyth Network.
Mike Silagadze, CEO of Ether.fi, noted that they needed infrastructure capable of handling real-time payments at massive volume. Jing Wang, from OP Labs, highlighted that every dollar flowing into OP Mainnet deepens the liquidity available to all protocols already operating on the network.
Ether.fi’s Next Move
With the migration completed, the team is targeting the launch of Gold Vaults and a euro-denominated card, along with deeper DeFi integrations, expanded yield strategies and improvements to cashback mechanisms. Relocating the collateral onto OP Mainnet technically enables those functionalities. The product work was the underlying objective; the infrastructure was the necessary step to get there.
