EtherFi Cash has deployed a dedicated Aave V4 instance on the Optimism chain to support the credit card backend

August 13th, ether.fi announced that the existing lending infrastructure of EtherFi Cash is no longer able to meet its development needs. They are deploying a dedicated Aave V4 instance on the Optimism chain to support the credit card backend. EtherFi Cash currently has an active borrowing amount of $22 million. By 2027, the lending capacity will reach $500 million. There are already 70,000 cardholders using cryptocurrency for spending without selling their cryptocurrency.