The Safe platform for managing digital assets, formerly known as Gnosis Safe, has raised $100 million in a strategic funding round.
1/📢 Important News:
We are announcing a strategic funding round of $100 million led by @1kxnetwork to advance digital asset management and unlock ownership for everyone.
Read more:https://t.co/hUzlAZiXYO— Gnosis Safe (⌛️_⌛️) (@gnosisSafe) July 12, 2022
It was led by the crypto fund 1kx, with 63 participants including Tiger Global, A&T Capital, Blockchain Capital, Digital Currency Group, Greenfield One, Rockaway Blockchain Fund, ParaFi, Lightspeed, Polymorphic Capital, Superscrypt, and a number of other companies and individual investors.
The funds will go to the Safe Ecosystem Foundation — a nonprofit organization behind the project’s development.
The community voted to create the foundation and separate the platform from the parent company Gnosis Ltd in April.
“The aim of Safe is to create a dynamic ecosystem of applications and wallets that use smart-contract accounts. This will be achieved through grants, investments, and by providing tools and infrastructure for developers,” the statement said.
The custodian solution from Safe has processed more than 600,000 transactions and safeguarded digital assets worth over $40 billion. The platform serves large treasuries DAO (1inch, BitDAO) and companies (Bitfinex, Shopify).
The platform’s ecosystem comprises more than 30 teams developing standalone solutions built on it. These projects include products for savings (Streams, Linen Wallet), treasury management (Coinshift, Parcel), tools for DAOs (Utopia Labs, Orca Protocol), NFTs (Prysm, Castle) and wallets (Rabby, Metamask Institutional).
In 2021, Apple blocked the update of the Gnosis Safe app due to support for storing NFTs.
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