Safe, a crypto self-custody company formerly known as Gnosis Safe, has introduced Safe Labs, a subsidiary focused on creating high-quality self-custody solutions for enterprises. Safe Labs, a commercial arm of Safe, will utilize Safe Smart Accounts to develop institutional products. Led by Rahul Rumalla, Safe Labs aims to cater to businesses requiring onchain value exposure. Safe currently secures $60 billion in assets and powers a significant portion of Ethereum transactions. However, challenges like blind signing in multisignature setups have led to security breaches in the past. To address this, collaboration between multisignature solution developers and hardware wallet producers is crucial. Safe's upcoming product, based on Safe Smart Accounts, aims to enhance security in self-custody solutions. Despite recent security incidents, Safe continues to innovate in the self-custody space, emphasizing the importance of user control over private keys. Read more AI-generated news on: https://app.chaingpt.org/news

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