This is a segment from the Empire newsletter. To read full editions, subscribe.

A bank, but make it DeFi. 

Ether.fi is launching the first DeFi bank, a decentralized and non-custodial alternative to traditional banks. 

Basically, the project is expanding into a new category, “which is not a traditional bank, in the sense that it doesn’t take users’ deposits, but it really is a viable alternative to banks,” CEO Mike Silagadze told me.

“Our plan from the beginning was to build this larger platform that really became a bank alternative for users,” Silagadze noted. “I think over the next year…you [will] actually see…half a dozen companies launch something…

Read more on Blockworks