Safe Partners With Stripe And Gelato To Launch Open-source Software Stack Core

Key Points:

• Safe released a new offering called Core, which is an open-source software stack for streamlined smart contract creation.
• The company is also introducing March for Account Abstraction, a month-long hackathon with rewards totaling more than $50,000.

Switzerland-based self-custodial infrastructure provider Safe (formerly Gnosis Safe) released a new product called “Core,” which is a newly developed open-source software stack that integrates account abstraction and simplifies smart contracts.

Core will integrate partner solutions from fiat onramp provider Stripe and DeFi protocol Gelato. The new feature separates smart contract functionality from the concept of externally owned accounts like user wallets, making them easier for developers to create and manage.

Richard Meissner, a co-founder of Safe, feels that Core will entice more developers to build on Ethereum and help the expansion of the Web3 ecosystem. Meissner also believes that account abstraction is vital for onboarding new users and enhancing Web3 usability. He said:

“The biggest impact on onboarding millions is going to come through account abstraction. Safe has been at the forefront of AA and is the most battle-tested and used implementation. With Core we are putting a modular stack in the hands of developers to grasp this massive opportunity.

We have partnered with the best in the business to improve UX capabilities for on-ramping, relaying and authentication as part of Core kits. We now invite partners and developers to integrate and improve the experience for average users with the known and tested robustness of Safe infrastructure.”

The Safe team also announced that it will host a one-month hackathon called “March for Account Abstraction” to entice developers to take part and build on Core with incentives of more than $50,000 to put the power of account abstraction in their hands, starting today.

The company’s custody system now protects assets worth $39 billion and has undergone extensive auditing and testing since 2018. Everyone now uses it as their go-to wallet of choice, from large companies like Shopify to Web3 natives like AAVE and 1inch. Some of the biggest private investors, including Punk6529 and Vitalik Buterin, put their faith in Safe Wallet when it comes to their personal money.

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