Ether.fi, the largest non-custodial crypto card by value in use, has officially gone live on OP mainnet, bringing in a total of $220 million locked, 300,000 accounts, and 70,000 active cards.
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This migration was the largest TVL event in OP Mainnet history and was completed in just three days with no downtime.
This move positions OP Mainnet as a long-term infrastructure home for crypto’s most active consumer fintech products, with Gold Vaults and Eurocard already on the roadmap.
3 days with zero downtime
The full migration took place over three days, during which time all 70,000 active cards remained fully operational.
According to Optimism’s announcement on X, the Optimism Foundation worked with the Ether.fi team on the bridge engineering, oracle support, asset metadata, and operational logistics required to move a live consumer product without interruption.
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EtherFi Cash processes millions of dollars in real-world payments every day through its tap-to-pay feature anywhere Visa is accepted. Maintaining uninterrupted card operations during a migration of this scale was a critical requirement, and the team achieved that requirement.
Why OP mainnet?
According to Optimist Prime’s thread on X, the Ether.fi team evaluated multiple chains before choosing OP Mainnet. This decision was driven by the performance profile required for a consumer-scale payments product that settles real money every day.
The key infrastructure metrics that drove the decision were:
Median price: $0.00001
Finality: <250ms via flash block
throughput: 20Mgas/s, expanding towards 100Mgas/s
Operating time: 99.99%
Data feed: Leverage the Python network
For consumer payments products, delays directly impact user experience, fees impact cancellation, and uptime is non-negotiable. OP Mainnet’s performance profile matched what Ether.fi needed to continue scaling.
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The difference between EtherFi Cash
EtherFi Cash combines a traditional card experience (instant payments, global reach, tap-to-pay) with on-chain yield. Every dollar stored on your card earns you revenue on-chain. This is a feature that cannot be replicated with traditional credit cards. The product comes with the following warranty: $5.8 billion protocol And now it runs entirely on OP Mainnet’s infrastructure.
Ether.fi CEO Mike Silagadze says the transition is a necessary step for the next phase of the product.
“EtherFi Cash is the largest non-custodial crypto card on the market, and the roadmap we’ve been building is why. To ship what’s next, we needed an infrastructure that could process real-time payments for consumers. OP Mainnet delivered on every front. We answered that question: 3 days to migrate $220 million with no downtime. Now we get to build.” — Mike Shiragadze, Ether.fi CEO
Liquidity Flywheel and Ecosystem Impact
The $220 million in TVL will not only benefit Ether.fi, but will also further deepen all the liquidity pools that already exist on the OP mainnet. According to Jing Wang of OP Labs, this influx changes the way other protocols calculate similar infrastructure decisions.
“This is what OP Mainnet is about. A live consumer product of this scale chooses the infrastructure it needs for its next chapter, and we are building for what comes next with Ether.fi. Every dollar we land deepens liquidity for everyone already here.” — Jing Wang, OP Labs
This migration also serves as a proof of concept for other teams looking to migrate to OP Mainnet. The $220 million migration was completed in three days with no downtime or disruption to users, setting a benchmark for what is operationally possible.
what’s next
With the migration complete, the Ether.fi and Optimism teams have outlined several short-term priorities.
gold storage and euro card Launch on OP mainnet
Expanding DeFi integration and yield strategies built on Ether.fi’s transferred collateral
Continuously expand OP mainnet throughput towards 100Mgas/s
Joint milestones underway under partnership between Optimism Foundation and Ether.fi
For more information on migration and partnerships, please see Optimism’s official blog post.
