Subscribe to Our Newsletter
Wednesday August 17, 2022
Bitcoin (BTC) $23,432.28   Ether (ETH) $1,843.93
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
No Result
View All Result
Easily Swap USDT (TRC20) & More
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
Koinly
CryptoNinjas
Home Capital Raising

Gnosis Safe raises $100M led by 1kx to grow its crypto-custody solution, rebrands to Safe

Following a community vote to spin-off from Gnosis, the Gnosis Safe project is announcing a rebranding to Safe plus a strategic funding round of $100 million led by 1kx...

Published by CryptoNinjas.net
07/12/2022
Gnosis Safe raises $100M led by 1kx to grow its crypto-custody solution, rebrands to Safe

Safe (previously known as Gnosis Safe), a blockchain asset management platform, today announced it has raised $100 million led by 1kx. Initially developed as an internal tool, Gnosis Safe has organically become a popular infrastructure for web3 as a means to securely manage digital assets.

This funding round is a milestone for the growth of Safe as a programmable ownership platform, enabling secure management of digital assets, data, and identity across DAOs, plus retail and institutional users.

Today’s new funding and strategic alliances will enable Safe to grow an ecosystem of apps and tools on top of its smart contract account protocol. All funding is extended to the Safe Ecosystem Foundation, a non-profit organization protecting strategic assets and contributing to the further development of Safe.

The round is also joined by Tiger Global, A&T Capital, Blockchain Capital, Digital Currency Group, Greenfield One, Rockaway Blockchain Fund, ParaFi, Lightspeed, Polymorphic Capital, Superscrypt, and 50 other strategic partners and industry experts.

Unlocking ownership for everyone in web3

Gaining wide adoption for its self-custody solution, Safe has been used to process over 600,000 transactions and secure digital assets exceeding $40 billion. Additionally, many highly valued NFTs, including 13% of all Cryptopunks, are currently secured using Safe.

Safe has built infrastructure that serves some of the biggest DAO treasuries (1inch, BitDAO), crypto institutions (Bitfinex, GSR), and enterprises (Shopify, AB group). Also, individuals such as Vitalik Buterin and Punk6529 (participating as an angel) use Safe to secure their most valuable personal digital assets.

Making web3 accounts smart

Traditional web3 accounts are controlled by a single private key, emanated from a 24-word secret phrase. As long as a user owns this private key, they control the account. However, these private keys can get lost or compromised, resulting in the total loss of the assets associated with the account.

Safe, on the other hand, uses smart contracts accounts that can be individually configured to suit the custody needs of different user groups:

  • Authentications using multiple private keys (multisig) or community-control (DAOs)
  • Recovery and inheritance mechanisms
  • Improved transaction experience (transaction batching, gas abstraction)
  • Transaction checks and hybrid-custody
  • Spending limits and automation

“For mainstream adoption of web3 we need to overcome the risks and limitations of private key accounts. Safe provides a critical public good as a composable and use-case agnostic smart contract account that can control digital assets, data and identities. The transition towards smart contract accounts will be a joined effort by the entire web3 community.”
– Lukas Schor, Co-Founder, Safe

An ecosystem

Safe aims to foster a vibrant ecosystem of apps and wallets leveraging Safe smart contract accounts. This will be achieved through grants, ecosystem investments, and developer tools.

“Safe is user-group and use-case agnostic infrastructure at its heart. Due to this role, we are excited to involve a diverse group of industry leaders to accelerate the adoption of smart contract accounts. Leveraging the broad expertise and network of our partners, Safe is uniquely positioned to cover various ecosystem verticals such as DAO, DeFi, NFT, P2E, and institutional offerings.”
– Christoph Simmchen, Co-Founder, Safe

Presently, the Safe ecosystem consists of many ecosystem verticals. These projects provide specialized solutions across savings (Streams, Linen Wallet), treasury management (Coinshift, Parcel), DAO tooling (Utopia Labs, Orca Protocol), wallets (Rabby, Metamask Institutional), and NFTs (Prysm, Castle).

61
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram
Source: gnosis-safe.io

Related News

Ethereum-based Gnosis Safe expands to Polygon, Arbitrum and BSC to enable more efficient DAOs

07/13/2021
Ethereum-based Gnosis Safe expands to Polygon, Arbitrum and BSC to enable more efficient DAOs

Gnosis Safe, a platform for managing digital assets on Ethereum, today launched on EVM-compatible networks Polygon, Arbitrum, and Binance Smart Chain (BSC), as part of its multi-chain layer-2 rollout. The deployment aims to tackle...

Read more

Gnosis joins Erigon (formerly Turbo-Geth) to release next-gen Ethereum client

06/02/2021
Gnosis joins Erigon (formerly Turbo-Geth) to release next-gen Ethereum client

Erigon, an Ethereum client that has provided critical infrastructure since 2018 under its former name Turbo-Geth, is launching a new version that integrates tracing functionality while increasing modularity, synchronization speed, and resource efficiency. These...

Read more

Gnosis Auction launches for fair and even token price discovery

04/07/2021
Gnosis Auction launches for fair and even token price discovery

Gnosis, a builder of new market mechanisms for decentralized finance, has now launched Gnosis Auction, a platform that uses batch auctions to enable fair price discovery for token auctions. "With ICOs and token launches...

Read more

Gnosis Safe releases first in a suite of tools for DAO governance; enabling on-chain execution of off-chain votes

03/16/2021
Gnosis Safe releases first in a suite of tools for DAO governance; enabling on-chain execution of off-chain votes

Gnosis, a development ecosystem for decentralized finance, today announced it is combining the Gnosis Safe Multisig with popular governance platform Snapshot to create SafeSnap, which allows on-chain execution of off-chain votes. SafeSnap is the...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
ELLIPAL now supports Zcash (ZEC) for cold storage and trading

ELLIPAL now supports Zcash (ZEC) for cold storage and trading

01/14/2020
Crypto exchange Kraken's second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT

Crypto exchange Kraken’s second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT

08/12/2022
Brazil payment app PicPay launches new crypto exchange service with Paxos technology

Brazil payment app PicPay launches new crypto exchange service with Paxos technology

08/10/2022
"Move-and-earn" app STEPN to utilize LINE Blockchain for the Japanese market

“Move-and-earn” app STEPN to utilize LINE Blockchain for the Japanese market

08/09/2022
Crypto exchange Kraken's second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT

Crypto exchange Kraken’s second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT

08/12/2022
Blocknative releases new tool to enable high-speed propagation of ETH transactions

Blocknative releases new tool to enable high-speed propagation of ETH transactions

08/11/2022
SynFutures plans to integrate with Router Protocol to improve multi-chain access

SynFutures plans to integrate with Router Protocol to improve multi-chain access

08/11/2022
New Serum powered DEX for Solana from Vybe Network launches

New Serum powered DEX for Solana from Vybe Network launches

08/10/2022
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

Go to mobile version