Safe publishes quarterly report as volume tops $10 billion in a bear market and accounts surpass 61M

The self-custody leader launches a regular public reporting cadence as Q1 data shows continued structural adoption with record-breaking transaction volumes, solidifying its position as core infrastructure for the onchain economy.
ZUG, Switzerland, April 23, 2026 - Safe Foundation today published its Q1 2026 Quarterly Report, the first in a new regular public transparency cadence, showing the protocol processed 4,779K ETH in transaction volume across the quarter, a 25% increase over Q4 2025, in a quarter when broader market conditions contracted.

You can read the full report now on the Safe Foundation's website: https://safefoundation.org/reports/q1-2026

Safe experienced a record-breaking first quarter (Q1), processing over 122.9 million transactions. This period was marked by an unprecedented acceleration in new account creation, adding 2.21 million net new accounts and raising the total to 61.11 million. March was a standout month, setting two new records: the largest single-month increase in Safe's history with 852,000 net new accounts and the highest monthly transaction volume at 50.9 million.

In February, Safe publicly disclosed that it had crossed $10 million in annualized recurring revenue in 2025, a fivefold increase from $2M ARR at the end of 2024 and a milestone three years in the making.

"As digital assets become part of the global financial infrastructure, the systems that safeguard them will matter enormously," said Lukas Schor, Co-Founder of Safe and President of the Safe Ecosystem Foundation. "GDP will move onchain, and a meaningful share of it will move through multisigs and smart accounts. Projects securing tens of billions in value have an obligation to report publicly and regularly. We want to set that standard."

On the product side, Safe{Labs} launched a euro-denominated yield product in February, in partnership with Société Générale's SG-FORGE and Morpho, the first institutional EUR savings product in self-custody. The EURCV vault reached $9 million in deposits by quarter-end. More than 40 product and ecosystem updates shipped across Q1, covering new network deployments, API, and integrations with Hyperliquid, Tempo, and Ambire.
Safe today secures $35.25 billion in assets, more than one-third of total EVM DeFi TVL, across 61 million accounts. Approximately 2% of the $340 billion global stablecoin market is held in Safe accounts.
This announcement comes on the back of Safe launching Safenet Beta, a decentralized transaction security network that enforces protocol-level security before a Safe transaction executes. The core shift: moving security from warnings into the execution path itself. Even if you sign by mistake, the network stops it. As Richard Meissner, Co-Founder of the Safe project, said at launch: "Crypto has spent years building better warnings. That is not enough."

Q1 highlights
Record accounts: 61.11M total Safe accounts; 2.21M net new created in Q1, with March the strongest single month in Safe's history at 852K new accounts
Record transactions: 122.9M total transactions in Q1; March set a new monthly record at 50.9M
Volume growth: ETH-denominated transaction volume (nTVP) up 25% QoQ to 4,779K ETH, the strongest quarter on record
Scale: $35.25B in assets secured at quarter-end, more than one-third of EVM DeFi TVL
Revenue: $10M+ ARR crossed in 2025, up 5x year-over-year
Product: EURCV vault reached $9M in deposits within weeks of launch; 40+ updates shipped across the quarter
Ecosystem alignment: Safe Foundation announced 5-year token-based partnerships with both World Foundation and JOIN in Q1, expanding long-term ecosystem alignment.

About Safe
Safe (previously Gnosis Safe) is an onchain asset custody protocol that has processed over $1.4T+ in total value (TVP). Released as an open-source software stack by the Safe Ecosystem Foundation, it is establishing a universal smart account standard for secure custody of digital assets, data, and identity. Safe is built for the mission to unlock digital ownership for everyone in web3, including DAOs, enterprises, retail, and institutional users.

Media Contact Samuel A comms@safefoundation.org

About the Safe Ecosystem Foundation, Zug, Switzerland
The mission of the Safe Ecosystem Foundation is to support the development of Safe, to strengthen Safe technology and to promote the Safe Ecosystem. The Safe Ecosystem Foundation is a non-profit organisation based in Zug, Switzerland, that helps educate people about Safe smart accounts and promotes Safe technology through the provision of grants and other forms of funding.
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Legal Disclaimer
This press release is issued by the Safe Ecosystem Foundation, Zug, Switzerland (the "Foundation"). This is not an offer to sell or a solicitation of an offer to purchase any SAFE tokens and is not an offering, advertisement, solicitation, confirmation, statement, or any financial promotion that can be construed as an invitation or inducement to engage in any investment activity or similar.
The Foundation makes no representations, warranties and/or covenants with respect to the Safe Technology (or any implementations of the Safe Smart Accounts) or any program (Grants, Hackathons and/or any other forms of funding) run by the Safe Ecosystem Foundation. Safenet Beta is provided on an "as is" and "as available" basis for development and testing purposes only. The Foundation does not manage or control the Safenet Beta technology and does not provide any services related to Safenet Beta. Validators act independently and bear full responsibility for their activities. To the fullest extent permitted by law, the Foundation, its affiliates, and associated persons expressly disclaim all liability for any damages of any kind arising out of or in connection with the use of, or inability to use, Safenet Beta. Any interaction with Safenet Beta is at your own risk. This press release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those anticipated.

This release was published on openPR.