Ether.fi Launches Cryptocurrency Hotel Booking Service in Its Move Toward Becoming a Neobank

Ether.fi, a protocol that has shifted from restaking to becoming a neobank with $6.8 billion held in user deposits, has introduced Ether.Fi Hotels, which allows users to make luxury hotel reservations globally using their Ether.fi Cash cards.

The company rebranded last month as a neobank, integrating conventional banking functionalities with its established decentralized finance (DeFi) capabilities, including earning yields through Ethereum restaking.

This new service is a collaboration with Entravel, a travel booking platform featuring a wide selection of hotel brands worldwide. Customers using the Ether.fi Cash card will enjoy a 5% cash back on all hotel bookings.

Mike Silagadze, CEO of Ether.fi, stated, “This collaboration moves us closer to making cryptocurrency a part of daily life. Ether.fi Cash already enables spending, borrowing, and earning with crypto; now users can also explore the globe with it.”

Analytics from Dune Analytics indicate that the Ether.fi Cash product is currently managing an impressive $25 million in user deposits, with users spending $3.8 million and earning $109,000 in cash rewards.