Coinbase, the leading US-based cryptocurrency exchange, has added a new security-focused altcoin called Safe to its platform, along with other major cryptocurrencies. The announcement was made on social media, stating that Safe is now available on Coinbase.com and the Coinbase mobile apps, labeled as an “experimental asset.” This label is used for tokens that come with certain risks, such as price volatility and limited trading volume.

In addition to Coinbase, the Singapore-based exchange Bitrue has also listed Safe for trading, starting on April 25th. Bitrue will offer the SAFE/USDT spot trading pair, with deposit opening on April 24th, trading opening on April 25th, and withdrawal opening on April 26th. Bitrue has also announced plans to allow users to stake GNO and SAFE, with the opportunity to earn up to 20% APR.

Furthermore, the Seychelles-based exchange MEXC will list Safe in its “Innovation Zone” and open trading for the SAFE/USDT pair. The deposit will be opened on April 25th, with trading starting on the same day, and withdrawal available from April 26th.

At the time of writing, Safe is trading at $1.90, showing a decrease of 13.5% in the past 24 hours. Safe, formerly known as Gnosis Safe, serves as the governance token for the decentralized finance custodian Safe Protocol. The protocol aims to transform Ethereum accounts into smart accounts to facilitate various use cases, including artificial intelligence, staking, gaming, payments, and easier logins.

Richard Meissner, co-founder of Safe, emphasized the importance of governance and consensus in growing the ecosystem sustainably. He believes that the Safe token plays a crucial role in achieving this, as it represents the ecosystem and enables new participants to join. Meissner also highlighted the token’s ability to provide security and guarantees for the functioning of specific services and modules within the ecosystem.

As Safe gains more listings and expands its functionalities, it aims to implement various features and innovations to further enhance its ecosystem.

Please note that this article is for informational purposes only and should not be considered investment advice. It is essential to conduct thorough research and exercise caution before engaging in high-risk investments involving cryptocurrencies or digital assets. The Daily Hodl does not endorse or provide investment recommendations, and any losses incurred are the responsibility of the individual investor.