Enso Now Powers RWA Execution on Ether.fi
Ether.fi Cash (110k+ active cards and $900M spent) adds real-world assets, with Enso handling routing, minting, and cross-chain execution.
The next generation of the Ether.fi app brings tokenized stocks and metals alongside the rest of a user’s onchain portfolio.
And the distribution is already there: according to Blockworks, Ether.fi Cash is projected to reach $1.7B in monthly spend within the next 12 months.
Behind that experience, Enso routes and executes RWA trades across the app.
When a user chooses an asset, Enso determines how to get them there from what they already hold. That can involve a same-chain swap, moving liquidity across chains, minting the underlying RWA, or combining several of those actions into a single execution.
One interface across chains and liquidity
Tokenized assets are increasingly distributed across different issuers, chains and liquidity venues. Making them available inside an application means connecting all of that infrastructure without passing the complexity on to the user.
Enso abstracts this into a single routing interface for ether.fi.
A user can start with a supported asset or position and access the RWA they want without manually bridging, swapping between intermediate assets or finding the chain where the asset is available.
Depending on the trade, Enso can route through:
- Same-chain swaps
- Crosschain swaps
- OFT transfers
- RWA minting and redemption
- RFQ liquidity
These actions can also be composed together when reaching the destination requires multiple steps.
For Ether.fi, this means RWA access doesn't depend on building and maintaining separate integrations for every possible execution path. As new assets, chains and liquidity sources become available through Enso, they can become part of the same infrastructure.
Connecting Optimism to Ethereum liquidity
The RWA experience inside ether.fi also illustrates why crosschain execution matters.
Ether.fi operates on Optimism, while RWA minting, redemption and much of the deepest liquidity for these assets live on Ethereum. The RWA tokens themselves are OFTs, allowing them to move between chains.
Enso manages this entire execution path.
A trade initiated on Optimism can access liquidity or minting infrastructure on Ethereum, move the resulting RWA across chains through its OFT implementation, and deliver the asset back to the user on Optimism.
Depending on available liquidity, Enso can also determine when a direct route on Optimism provides better execution.
The user doesn't need to decide which chain to use, where to source liquidity, whether to bridge first or how the RWA needs to move between networks. Those decisions become part of the route itself.
Routing for execution quality
Finding a route is only part of the problem. The route also needs to produce the expected outcome.
Before execution, routes are simulated against the current state of the chain to verify the expected outcome.
This gives Ether.fi an execution system that can evaluate where liquidity is available, how the trade should be constructed and whether the resulting transaction behaves as expected before it reaches the user.
Abstracting the infrastructure
The result is intentionally simple for the user.
They choose the asset they want to access inside Ether.fi. Enso handles the routing, crosschain movement, swaps, OFT transfers, minting, liquidity sourcing, and simulation required underneath.
As more of the financial system moves onchain, applications shouldn't require users to understand the infrastructure connecting it.