ether.fi Acquires Select Zeal Assets and Asks Users to Transfer Them by December 1, 2026
Key Facts
Zeal announced that ether.fi had acquired select assets from the company, while the two firms remain separate, in a deal that does not automatically transfer users’ accounts, keys or funds. Zeal said, "Nothing moves until you confirm it," explaining that asset transfers begin only with the user’s approval for each transfer. The company urged its users to transfer their assets by December 1, 2026, but described the move to ether.fi as optional. Users can instead send their assets to another wallet or withdraw them to their bank account. The deal’s impact is therefore centered on the assets and the available transfer options for users, not on the transfer of Zeal accounts themselves to the buyer.
The migration page lets users choose between moving to ether.fi, transferring assets to another wallet, and withdrawing them to a bank. Zeal says the date when its app will stop operating has not yet been set, making December 1 the deadline by which the company is asking users to complete asset transfers, not an announced date for the app’s closure. The process also does not require users to transfer all their assets to ether.fi; the decision is theirs, and no transfer takes place before they confirm it. These options distinguish Zeal’s asset-transfer deadline from the date when other wallet-related services end. Users who choose to move to ether.fi must complete the transfers they approve themselves.
On Optimism, Zeal says users can transfer their balances in USDC, USDT, EURC, ETH, WETH, weETH, OP and ZCHF as they are. Other assets can be converted to ZCHF or USDC if users choose. Transfers are subject to network fees, according to the migration page. The different paths by asset type mean some balances can be transferred in their current form, while others require users to choose a conversion into one of the two named currencies. These steps remain part of a process approved by the account holder, as Zeal confirms that no asset moves without their confirmation.
The ether.fi card requires identity verification, according to the company’s page, while Zeal describes the move to ether.fi as targeted and optional. Choosing to transfer assets therefore does not by itself mean a user automatically moves to all ether.fi services; obtaining the card requires completing identity verification. ether.fi describes itself as a non-custodial app that brings together crypto, stocks, metals, spending, trading and borrowing in one account. The company also offers 3% cash back on everyday spending. These services place the move in the context of ether.fi’s expansion into spending and cards alongside its digital-asset products, without the announcement establishing an integration of Zeal’s infrastructure or the transfer of its accounts.
Gnosis Pay says Zeal card services will stop by December 20, 2026, and that from that date the web app will be limited to withdrawals. The company told Zeal users, "Move to one of our partner apps as soon as possible," pointing to Rebind as an option for transferring Zeal cards. This schedule sets the end of card services after the deadline by which Zeal asked users to transfer assets, while withdrawals through the web app will remain possible under the notice. The two dates do not mean the same thing: the first is the requested deadline for asset transfers, while the second is when card services stop and the app becomes limited to withdrawals. Until then, moving to ether.fi remains one of the options Zeal offers users.
The deal follows ether.fi’s announcement on October 6, 2026, that it intended to launch a stablecoin in partnership with Ethena, according to earlier coverage by EL7. The acquisition of select Zeal assets adds to the company’s push into services combining digital assets and spending, while the two firms remain separate, according to Zeal’s announcement. The announcement provides no details on the deal’s value or the scope of the selected assets, and does not mention the transfer of users’ accounts, keys or funds. In the near term, Zeal users face a choice to transfer their assets by December 1, 2026, move to another wallet or withdraw to a bank. Card services will then stop on December 20, 2026, with the web app limited to withdrawals from that date, according to Gnosis Pay.