- Users are able to buy and store Safe token on the platform because Coinbase lists it as an “experimental asset.”
- Safe builds on its previous integration of Data Saver for account abstraction to improve Ethereum accounts with DeFi features.
The security-focused Ethereum token, Safe (SAFE), has been formally added by Coinbase as an “experimental asset” on its platform, which is a big step for the cryptocurrency exchange industry.
Thanks to this advancement, users can now buy, sell, and store the token on Coinbase.com and through its mobile apps.
Safe (SAFE) is now live on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps with the Experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) April 23, 2024
Growth on Different Trading Platforms
In addition to Coinbase, Safe is becoming more popular on significant platforms like MEXC and Bitrue. Bitrue will begin offering trading for the SAFE/USDT spot trading pair on April 25.
Additionally, MEXC has added the Safe token to its Innovation Zone, demonstrating the increasing adoption of Safe by a variety of trading platforms.
With regard to Coinbase for Safe, the term “experimental” denotes a cautious approach because of possible hazards such price volatility and order cancellations, which are more frequent in assets with lower trading volumes.
The Trading Metrics of Safe Token
According to the most recent update, Safe is currently trading at $1.95, slightly up 0.24% over the previous day. Its cutting-edge features and recent listings continue to fuel its potential for growth and wider acceptance.
In addition to being a cryptocurrency, Safe is an essential component of the Safe Protocol, a decentralized financial custodian created to convert Ethereum accounts into flexible smart accounts.
These accounts improve the overall functioning of DeFi platforms by enabling a variety of additional use cases, including payments, games, staking, artificial intelligence (AI), and simpler login processes.
Data Saver Integration for DeFi Account Abstraction
In the past, Safe played a key role in the integration of Data Saver, which was essential in giving DeFi account abstraction, in line with what ETHNews previously disclosed.
This feature pushes the limits of what blockchain technologies can accomplish by enabling more efficient and smooth interactions within the decentralized finance ecosystem.
The co-founder of Safe, Richard Meissner, highlights that for the ecosystem to expand sustainably, consensus and governance are essential.
By enabling new users to interact with and contribute to the ecosystem, the transferability of the Safe token strengthens its governance function and guarantees a safe environment for service and contract activities.
Learn how $SAFE token enhances the security and reliability of services and smart contract modules.
Watch the full video below. https://t.co/mKElUyY6dJ pic.twitter.com/26cdP57FHn
— The Rollup (@therollupco) April 24, 2024
Now that the token can be transferred, the Safe team can develop and deploy further features, which might completely change the way security and operations are managed in the DeFi industry.