Odaily Planet Daily reports that Ether.fi has announced that its existing lending infrastructure for EtherFi Cash can no longer meet growth demands, and it is currently deploying a dedicated Aave V4 instance on the Optimism chain to support its credit card backend. EtherFi Cash currently has $22 million in active loans, with lending capacity projected to reach $500 million by 2027. Over 70,000 cardholders are already using cryptocurrency for spending without needing to sell their crypto assets.
EtherFi Cash deploys Aave V4 on Optimism, targeting $500 million in lending capacity by 2027.
KuCoinFlashShare
Summary
EtherFi Cash has launched a custom Aave V4 instance on Optimism to power its credit card backend, as on-chain data reveals its existing infrastructure can no longer support its growth. With $22 million in active borrowing and 70,000 cardholders, it aims to achieve $500 million in lending capacity by 2027. This move supports ecosystem growth by enabling users to spend crypto without selling it.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.