How Ether.fi Built A Neobank With DeFi

Aug 24, 2025

Mike Silagadze, co-founder of ether.fi, discusses the innovative world of decentralized finance through his neobank, combining blockchain with traditional banking. He shares insights on liquid staking, automated investing, and real-world debit card access. The conversation highlights the seamless integration of fiat-to-crypto systems and the introduction of tokenized stocks. Silagadze also delves into strategies for increasing user engagement and security features, all while aiming to reshape financial interactions for both enthusiasts and newcomers.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

INSIGHT

DeFi Bank Model

EtherFi's three pillars mirror a bank: stake (savings), liquid (investing), and cash (borrowing/spending).
This vertically integrated approach aims to let users live their financial life fully on-chain.

INSIGHT

Restaking And Integration Made Liquidity Sticky

Early restaking was a key differentiator that helped EtherFi capture market share in staking.
Deep integrations (500+) and multichain presence made their staking asset highly portable and sticky.

ADVICE

Keep Assets Productive While Spending

Use a smart contract vault as your on-chain cash account and attach a card for real-world spending.
Borrow against your vault or spend directly from deployed stable positions to keep assets productive while transacting.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

Mike Silagadze is the CoFounder at ether.fi.

In this episode, we dive into how Mike's team is building a full-service DeFi neobank. From native liquid staking to automated investing vault strategies, to real-world debit card spending, fiat on/off-ramps, tokenized stocks, and access to Hyperliquid perps, Mike explains how ether.fi is bridging onchain finance to the real world.

------
🔗 Essential Show Links 🔗

► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/

------
The Edge Podcast Sponsor Resources

♦️ REDSTONE | THE LEADING MODULAR BLOCKCHAIN ORACLE

♉︎ TOROS | EXPONENTIAL GAINS WITH LEVERAGED TOKENS

🥞 SYRUPUSDC BY MAPLE | DEFI'S PREMIUM YIELD ASSET

🦅 FALCON | OVERCOLLATERIZED SYNTHETIC DOLLAR - POINTS PROGRAM NOW LIVE

⚡ SPARK | THE ONCHAIN CAPITAL ALLOCATOR

🏦 MANTLE | INNOVATING THE FUTURE OF ONCHAIN FINANCE

🐡 PUFFER INSTITUTIONAL | STAKING SOLUTIONS FOR INSTITUTIONAL SCALE

📈 RUMPEL | TURN POINTS INTO PROFITS

⚙️ GEARBOX PROTOCOL | ONCHAIN LENDING REIMAGINED

------
Timestamps

0:00 - Intro
5:57 - The impact of ETH’s rising price on ether.fi
9:35 - Broader vision for ether.fi
15:40 - ether.fi Liquid vaults
17:03 - ether.fi Cash, bridging onchain and real-world spending
24:17 - ether.fi offers a better DeFi neobank
27:32 - Security and recovery features for Cash users
29:59 - Fiat rails and virtual US bank accounts
32:00 - Sponsor break
33:11 - Integrating tokenized stocks into ether.fi
35:53 - ether.fi Trade and offering new access to Hyperliquid
40:50 - Sponsor break
42:15 - Integration with HYPE LST for Cash and Liquid users
43:16 - ether.fi looking to work with ETH treasury companies
48:13 - Could Microstrategy ever tap into DeFi with eBTC?
50:45 - Closing

------
🔗 Guest Links 🔗

► ether.fi website: https://ether.fi/
► ether.fi Cash sign-up (ref link): https://www.ether.fi/refer/defidad
► ether.fi on X: https://x.com/ether_fi
► Mike Silagadze on X: https://x.com/MikeSilagadze

------
All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. DeFi Dad invested in ether.fi's seed round. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.