Ether.fi is launching the first decentralized finance (DeFi) bank, representing a non-custodial alternative to traditional banking. CEO Mike Silagadze stated that the platform aims to serve as a viable banking alternative, expanding its services to capture both crypto-native users and those who primarily use centralized exchanges. With plans to make new products available across most states in the US, Ether.fi's push comes amid a more favorable regulatory environment after recent SEC changes. Currently, the platform has around 200,000 users and aims to issue 100,000 cards by the end of the year. Silagadze also emphasized that they have maintained profitability since inception, with projections of $40 million in revenue for the next year.

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