Having more than $300M+ in stablecoins remaining completely inactive on our platform goes against the very concept of how a neobank should operate. To resolve this issue, we introduced our own stablecoin, ether․fi USD. This new asset acts as a single, unified currency across our entire ecosystem, integrating seamlessly whether you are using your card, managing vaults, borrowing, trading, or sending funds.
Rather than constructing the underlying stablecoin architecture from the ground up, this system is powered by @ethena Whitelabel. They have already mastered the complex foundational elements, taking full responsibility for the end to end management of reserves, minting, redemption, compliance, and KYB. While they handle the day to day operations, we maintain complete control over selecting the reserve mix that aligns with our specific risk preferences.
Ultimately, this creates a much more efficient financial experience for you. Whether it is the money waiting between card swipes, the balance you have not yet deployed into a vault, or the USDC resting in your account following a top-up, your funds will never sit idle again.
Rather than constructing the underlying stablecoin architecture from the ground up, this system is powered by @ethena Whitelabel. They have already mastered the complex foundational elements, taking full responsibility for the end to end management of reserves, minting, redemption, compliance, and KYB. While they handle the day to day operations, we maintain complete control over selecting the reserve mix that aligns with our specific risk preferences.
Ultimately, this creates a much more efficient financial experience for you. Whether it is the money waiting between card swipes, the balance you have not yet deployed into a vault, or the USDC resting in your account following a top-up, your funds will never sit idle again.