Smart wallet tech provider Safe is reporting that it has surpassed $100 billion in assets secured. At the same time, Switzerland based firm has hired Julian Grigo, former Managing Director at Solaris, as Head of Institutions and Fintech.
Safe, previously Gnosis Safe, is an on-chain asset custody protocol.
Safe shared that it has topped 6 million accounts with over 30 million transactions processed using their infrastructure.
Safe said it plans to further develop its institutions and fintech services by improving its Safe{Core} open-source tech stack.
Safe explained that the manual processes and reliance on intermediaries in traditional custody often result in substantial overheads and operational efficiency. Safe{Core} aims to address these issues, including costs and complexity.
Grigo said that transitioning to a model where institutions can enable crypto services without direct custody is a big step forward..
“With Safe{Core} in the driving seat, institutions can rethink traditional custody models, enhancing operational efficiency and minimizing vulnerabilities. We offer unparalleled security and customizable control, enabling institutions to explore new business models.”
Currently, Safe{Core} is said to power over 200 projects. The company cites Gnosis Pay, BasedApp in Singapore, and the Zeal wallet for neo banking as examples of how infrastructure can reduce onramping costs and empower more users to leverage self-custody.
Safe co-founder Lukas Schor said the company’s growth validates its commitment to empowering ownership for everyone, including traditional institutions and fintech organizations.
“Julian’s expertise combined with our account abstraction stack will enable us to put in the hands of institutions the ability to operate with more security and efficiency that not only meets but surpasses the existing standards in the industry.”