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New Security-Focused Ethereum Altcoin Goes Live on Coinbase and Other Crypto Exchanges

April 24, 2024

Top US-based crypto exchange Coinbase is listing a new security-focused Ethereum (ETH) altcoin, along with other major platforms.

Coinbase announced via the social media platform X that the crypto project Safe (SAFE) landed a listing on the platform as an “experimental asset.”

“Safe is now live on Coinbase.com and in the Coinbase iOS and Android apps with the ‘experimental’ label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”

The platform uses the experimental asset label for tokens that pose certain risks such as price swings and canceled orders because of lower trading volume and availability.

The Singapore-based cryptocurrency trading platform Bitrue is also listing Safe for trading starting April 25th.

“Bitrue will list Safe and open trading for the SAFE/USDT spot trading pair. Listing schedule:

  • Deposit opening time: April 24, 2024, 10:00 (UTC).

  • SAFE/USDT trading opening time: April 25, 2024, 8:00 (UTC).

  • Withdrawal opening time: April 26, 2024, 10:00 (UTC).

  • Coming soon: stake GNO and SAFE, earn up to 20% APR!”

Safe is also getting listed on the Seychelles-based MEXC exchange.

“MEXC will list Safe in the ‘Innovation Zone’ and open trading for the SAFE/USDT trading pair. The specific timeline is shown below:

  • Deposit: opened SAFE/USDT Trading: 2024-04-25 08:00 (UTC).

  • Withdrawal: 2024-04-26 08:00 (UTC).”

Safe is trading for $1.90 at time of writing, down 13.5% in the last 24 hours.

Safe – formerly Gnosis Safe – is the governance token for the decentralized finance custodian Safe Protocol, which aims to make Ethereum accounts smart accounts for new use cases involving artificial intelligence, staking, gaming, payments and easier logins.

Safe co-founder Richard Meissner says,

“We believe that to grow this ecosystem in a sustainable way you need some governance, you need some consensus. And this is really where we see the Safe token can come in. And with it becoming transferable this is where it becomes possible to really do this because the Safe token represents the ecosystem, also new people can join the ecosystem, and the ecosystem can provide security on how certain services are running, on how certain modules, which is like this extension mode that we use for smarter contracts, like are they secure or not to give guarantees.

Now that we’ve flipped the switch, now we can really start saying, Okay, let’s implement all of these things.”

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