ether.fi Founder Interview: The Future of DeFi Neobank

Oct 12, 2025

The Era of Buying Coffee and Paying Rent with Crypto

ether.fi is a Web3-based neobank expanding decentralized finance (DeFi) beyond staking and investment — turning it into an everyday financial experience. In this conversation, Mike Silagadze, CEO of ether.fi, shares his vision for the company and his perspective on the future of decentralized finance.

Interview Videos



Host: Ingi Kim (CEO, Narrative) · Guest: Mike (CEO, ether.fi)

The Vision of ether.fi: A “Crypto-Native Neobank”

Before founding ether.fi, Mike built Top Hat, a Canadian EdTech company he led for over ten years. After reading the Bitcoin whitepaper in 2010, he recognized the potential of blockchain and, in 2021, sold his company to fully transition into crypto finance. His goal with ether.fi is to create a true alternative to traditional banking. Through ether.fi, users can save, invest, and spend — all powered by cryptocurrency and built entirely on DeFi infrastructure.

Rapid Growth and a Global User Base

ether.fi currently manages around $12 billion in total value locked (TVL), with 60–70K registered users and over 25,000 cards issued. The company has seen particularly strong organic growth in Brazil and Taiwan, where daily new sign-ups reached 5,000–10,000 users at peak. Notably, this growth was driven organically, through community engagement and a referral-based program — not paid advertising. ether.fi’s influencer and community-driven structure has allowed its products to spread naturally across regions. In addition, through its partnership with Scroll, ether.fi provides real cashback rewards — up to 3% on everyday spending. This is not a marketing promotion but a technical collaboration where Scroll provides network liquidity while ether.fi contributes transaction volume and TVL, creating a mutually beneficial Web3 financial model.

Differentiation as a Web3 Neobank

ether.fi stands out from traditional fintech neobanks through efficiency and global scalability. With a team of around 30 people, the company operates $12 billion in assets — making it over 10 times more efficient than traditional financial institutions. Built on a non-custodial architecture, ether.fi ensures that users maintain full ownership of their assets, while its globally compliant framework, backed by legal consultation in each jurisdiction, secures both legitimacy and trust.

“We’re not focused on token prices. We’re focused on building products that people truly like.”

Mike’s philosophy is clear: DeFi must evolve into practical, everyday finance. Even in bear markets, people still buy coffee or groceries with their ether.fi cards — a testament to real utility. He emphasizes that crypto should not remain a tool for speculation, but rather a useful financial instrument woven into everyday life. This principle underpins ether.fi’s rapid product execution and global expansion strategy.

As an investor and a partner, Narrative actively supports the growth of high-potential AI/Web3 companies.

Get in touch

Follow Narrative on X