Key Points:

• Ether.fi has launched Ether.Fi Hotels, enabling users to book luxury hotels globally with their Ether.fi Cash cards.
• This service is offered in partnership with Entravel and provides users with 5% cash back on their bookings.
• Ether.fi has recently evolved into a neobank, integrating traditional banking with decentralized finance features.

Ether.fi, a neobanking protocol with over $6.8 billion in user deposits, has officially ventured into the luxury hotel booking space through its new service, Ether.Fi Hotels. This feature allows users to utilize their Ether.fi Cash cards to make reservations at hotel establishments worldwide.

Last month, the company pivoted to neobank status, blending traditional banking functionalities with its established decentralized finance (DeFi) services, including generating yields from Ethereum restaking.

This latest feature, in collaboration with Entravel, a global travel booking service, will reward users with 5% cash back on each booking made using the Ether.fi Cash card.

“This integration brings us one step closer to making crypto usable in everyday life,” stated Mike Silagadze, CEO of Ether.fi, in a recent interview. “Ether.fi Cash already allows users to spend, borrow, and earn on their crypto—now they can travel the world with it, too.”

According to data from Dune Analytics, the Ether.fi Cash product is currently managing $25 million worth of user deposits, with reports indicating that $3.8 million has been spent and $109,000 rewarded in cash back.