Coinbase Lists New Security-Focused Ethereum Altcoin Safe (SAFE) on Platform
The popular US-based crypto exchange Coinbase has added a new security-focused Ethereum (ETH) altcoin to its platform, along with other major exchanges. The altcoin, called Safe (SAFE), has been listed on Coinbase as an “experimental asset,” allowing customers to buy, sell, convert, send, receive, or store the token.
Coinbase uses the experimental asset label for tokens that may pose certain risks due to price swings and lower trading volume. Safe is also set to be listed on the Singapore-based Bitrue exchange starting April 25th, with trading available for the SAFE/USDT spot trading pair.
Additionally, the Seychelles-based MEXC exchange will also list Safe in its “Innovation Zone,” offering trading for the SAFE/USDT pair. Safe is currently trading at $1.90, down 13.5% in the last 24 hours.
Safe, formerly known as Gnosis Safe, is the governance token for the decentralized finance custodian Safe Protocol. The project aims to make Ethereum accounts smart accounts for various new use cases, including artificial intelligence, staking, gaming, payments, and easier logins.
Co-founder of Safe, Richard Meissner, emphasized the importance of governance and consensus in growing the ecosystem sustainably. He highlighted the role of the Safe token in providing security and governance for the ecosystem, allowing for the implementation of new services and features.
Investors are advised to do their due diligence before investing in high-risk assets like Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where this news was originally reported, does not provide investment advice and recommends caution in trading and transferring assets.
