Circle Taps Safe as Premier Institutional Storage Solution

Circle Internet Group has inked a strategic partnership with crypto security platform Safe. The latter will serve as the “premier institutional storage solution” for its USD-pegged stablecoin USDC. Circle Chief Commercial Officer Kash Razzaghi highlighted Safe’s growth over the years, citing that it has proven itself. 

Circle to Leverage Safe’s Infrastructure 

On Tuesday, Circle announced that it has tapped Safe to be USDC’s “premier institutional storage solution.” 

Safe, which was formerly known as Gnosis Safe, is a multisig-based “smart account” platform that secures more than $60 billion in digital assets. It has now included at least $2.5 billion in USDC as of the time of this writing. 

Experts believe that Safe’s infrastructure provides the institutional-grade security that is required for large-scale treasury operations. 

They are more excited about how it maintains direct access to Decentralized Finance’s (DeFi) deepest liquidity pools. Interestingly, USDC is already a dominant asset in this ecosystem, although USDT’s dominance still tops the chart. 

Analysing Safe’s Adequacy For Scaling USDC Adoption 

Circle executive Razzaghi noted that there is a growing trend of institutions moving on-chain. 

This transition has necessitated the need for trusted, scalable infrastructure, which will effectively and efficiently manage capital with confidence. Consequently, platforms like Safe have sprung up to cater to this demand. Razzaghi also noted that Safe has proven itself before now to be appropriate for scaling USDC adoption.

According to Safe founder Lukas Schor, the alliance between his company and Circle could be instrumental to positioning “USDC at the core of the Safe ecosystem.” In the long run, the goal is to make the multisig-based “smart account” platform a home for institutional stablecoin DeFi.

Circle Partners With Crossmint to Boost USDC Reach 

Meanwhile, Circle’s venture capital arm joined forces with crypto infrastructure firm Crossmint. 

The goal is to push out USDC across several blockchains while extending its global reach. Apart from being a key step toward stablecoin adoption for humans, both entities noted that it also marks an addition for AI agents as well.

Crossmint’s Wallets and APIs will be integrated with Circle’s USDC, aiming to deliver near-instant payments and seamless onramps. The goal is to create a financial ecosystem where “money moves near-instantly, access is global, and systems are built for both humans and machines,” Crossmint explained.