Amid Intensifying Layer-2 Competition, OP Mainnet Lands Ether.fi Cash Migration

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TL;DR

  • Ether.fi is set to transfer 70,000 cards and 300,000 accounts to OP Mainnet.

  • The Cash card handles $2 million in daily payment volume from real-world use.

  • According to Optimism, the OP Stack processed 3.6 billion transactions in the latter half of 2025.

  • This move aligns with Optimism’s strategy to expand its payments and consumer applications.

Ether.fi is getting ready to move its Cash product to OP Mainnet, transferring 70,000 active cards and approximately 300,000 digital cash accounts from Scroll. The migration will take place over the next few months as part of a long-term agreement with OP Enterprise. This shift transfers millions in user assets to Optimism as the network aims to bolster its payments infrastructure.

The Ether.fi Cash product enables users to convert traditional currency to cryptocurrency, generate yield via DeFi strategies, and conduct global payments with a Visa-accepted card. Users can also manage their assets using a non-custodial wallet. The company reports the system handles around 2,000 internal swaps and 28,000 daily spending transactions.

Data from a Dune Analytics dashboard indicates that Ether.fi represents over 25% of the spending volume among leading crypto card providers. This market share, along with swift user growth, has established the product as one of the most utilized payment tools in the cryptocurrency industry.

Optimism Positions OP Mainnet as a Payments Hub

According to an Optimism spokesperson, the migration introduces one of the most rapidly expanding crypto payment applications to OP Mainnet. The spokesperson noted the product handles roughly $2 million in daily real-world transaction volume while simplifying DeFi for average users. Optimism stated this demonstrates the value of its platform for companies focused on payments.

Optimism announced that the OP Stack managed 3.6 billion transactions in the second half of 2025. The network represented approximately 13 percent of all cryptocurrency activity in that timeframe. The company said this level of scale offers the necessary capacity to support high-volume consumer applications.

The organization also highlighted its experience overseeing migrations for significant ecosystems like Celo, Lisk, and Ronin. Consequently, the team anticipates a seamless transition for Ether.fi customers. Through the OP Enterprise model, Ether.fi will obtain access to shared liquidity, enterprise-level tools, and upcoming upgrades in the Superchain.

Industry Shifts as Base Plans to Exit OP Stack

The Ether.fi announcement coincides with a period of transition. Coinbase revealed that its Base network will transition from the OP Stack to an independently managed codebase. This decision impacts Optimism since Base has been the primary source of revenue for the Superchain. The value of OP tokens declined following the news.

Nevertheless, the migration by Ether.fi provides Optimism with a new stream of activity. The substantial transaction volume of the Cash product could help alleviate some worries about future revenue. This action also furthers Optimism’s goal of positioning OP Mainnet as a central hub for payments and consumer-focused crypto activity.

In a sign of broader layer-2 growth, Robinhood’s testnet also logged four million transactions in its initial week. Networks continue to prioritize real-world payments, tokenized assets, and user-friendly financial tools as competition intensifies.

A Growing Role for Consumer DeFi Applications

Ether.fi’s wider protocol has approximately $5.7 billion in total value locked, as reported by DefiLlama. The migration of its Cash product indicates an increased emphasis on consumer DeFi applications. Optimism said OP Mainnet will function as a settlement and liquidity center inside the Superchain.

This transition represents a new phase for Ether.fi as it seeks to grow its user base. It also illustrates how payment products are transforming the layer-2 ecosystem during a time of market volatility.