VIDEO - Mike Silagadze (EtherFi): "Our long-term goal is to build the equivalent of a bank".

Monday, June 24, 2024

The leader in liquid staking, EtherFi has a singular roadmap with the future launch of a unique credit card in the crypto world. We conducted a 50-minute video interview with CEO Mike Silagadze.

Following on from our season devoted to restaking (read our survey), we chose to talk to one of the most important entrepreneurs in this niche. In the space of just a few months, EtherFi has managed to attract more than $6 billion in value tied up in its protocol, which is based on EigenLayer.

This project is quite astonishing insofar as it provides an infrastructure solution (the ability to retain the liquidity of tokens placed in EigenLayer and other staking protocols), but also a future credit card in partnership with Visa.

The latter will enable cryptos to be spent without the need to convert them into euros, as has been the practice until now with this type of product.

"Our long-term goal is to build the equivalent of a bank with crypto-native financial services equivalent to what you find in the traditional world for saving, investing or spending", explains its CEO Mike Silagadze.

"The long-term goal is to achieve a completely on-chain payment solution with derisory transaction costs and no need for a physical card," he adds.

To understand everything about how this card works and EtherFi's ambitions, watch the video.

This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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