Safe processes nearly 130 million transactions in a single quarter, setting a new record, but sees a more than 30% decrease in revenue compared to the previous quarter

July 29th - The latest report from the crypto wallet protocol Safe revealed that it processed nearly 130 million transactions in the second quarter, with a total of over 63 million accounts created, representing a 20% year-on-year growth. Globally, approximately $1 out of every $48 in stablecoin supply is held in Safe. However, the revenue for this quarter dropped to around $1.98 million, lower than the $2.88 million in the first quarter, possibly due to pressure on cryptocurrency prices.

The report indicated that consumer-level applications on World Chain and Polygon contributed to the majority of Safe's transaction volume this quarter, with World App accounting for 52% and Polymarket for 35.7%. Additionally, Safe's on-chain security network, Safenet, launched in April, had conducted 456,000 transaction checks by the end of the quarter, with the staked SAFE tokens providing security. Currently, the staking amount is around 54.8 million tokens. (The Block)