Gnosis Safe Successfully Raised $100 Million

Asset management platform Gnosis Safe said it has successfully raised $100 million from many large funds.

On July 12, Gnosis Safe, an asset management platform through smart contracts, announced a fundraising round with a value of up to $100 million. Major investment funds participating in this round include 1kx, Tiger Global, Digital Currency Group, Blockchain Capital, and many others.

Gnosis Safe revealed the method of fundraising is through the project’s token sale. Besides, the project also announced to change its name to Safe to separate itself from the original development unit, Gnosis.

The money raised will help grow the ecosystem of apps and wallets around the Safe account through grants and incentive funds.

In addition, raising a large amount of money will also help Safe overcome the downtrend season without having to organize other funding rounds.

Gnosis Safe is a project built inside Gnosis, a forecast market using smart contracts. Gnosis Safe allows users to use smart contracts to protect and store assets through smart contract code, instead of private keys.

Safe affirms that this method will limit the risk of being attacked, as well as easy to integrate other solutions such as management via DAO, set deposit/withdrawal limits, setting up a recovery mechanism, etc.

Safe claims to be managing assets of up to $40 billion and have clients including many major projects in the crypto industry such as 1inch DeFi platform, CEX exchange Bitfinex, and Shopify shopping app.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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