With this move, Safe embarks on the next phase of its mission to simplify, improve, and enhance Web3 user experience. Leveraging their unique collective expertise, the Safe and former Multis team members will collaborate to solve the complexities of cross-chain interaction through network abstraction, with the end goal of enabling users to manage assets across diverse blockchain networks effortlessly.
As crypto usage soars, the demand for faster and more cost-efficient transactions has led to the rise of Layer 2 networks built atop the Ethereum mainnet (Layer 1), aiming to enhance scalability. However, this growth has considerably fragmented the blockchain landscape, complicating the development of user-friendly, on-chain applications and wallets. Addressing this complexity through network abstraction, which simplifies asset management across various blockchains, is crucial for setting the stage for mainstream adoption—a vital goal for the Ethereum community.
"The demand for Safe's services is skyrocketing, particularly from emerging L2 ecosystems seeking robust infrastructure support to help users manage their digital assets. As we expand, simplifying the cross-network experience becomes crucial," noted Richard Meissner, co-founder of Safe. "The synergy between Multis and Safe will undoubtedly help us become a staple in these evolving networks and beyond."
Thibaut added, "Joining Safe is a game-changer for us. We've already been harnessing Safe's robust infrastructure for years, and this is a new journey for us. It empowers us to broaden our mission, tapping into Safe's expansive platform and extensive user base. Together, we're set on building an ecosystem where digital assets and applications interact seamlessly across multiple networks, easing the path to adoption and creating a more integrated blockchain world."
Thibaut added, "Joining Safe is a game-changer for us. We've already been harnessing Safe's robust infrastructure for years, and this is a new journey for us. It empowers us to broaden our mission, tapping into Safe's expansive platform and extensive user base. Together, we're set on building an ecosystem where digital assets and applications interact seamlessly across multiple networks, easing the path to adoption and creating a more integrated blockchain world."
This strategic acquisition marks a turning point for Safe. It aligns with Safe's recent collaboration with Coinbase-incubated Base to make smart accounts the standard on Ethereum. This announcement furthers Safe's commitment to providing a seamless and secure foundation for managing assets within exploding L2 ecosystems on Ethereum.