Safe Wallet introduces native token exchange through CoW protocol integration.

Key Takeaways

• Safe has partnered with the CoW protocol to integrate native token exchange functionality directly into SafeWallet.
• This provides a simpler and more user-friendly experience by eliminating the need for users to navigate to external platforms for swaps.
• The integration leverages the CoW protocol’s advanced aggregation and intent-based architecture to support batch execution and reduce errors in multi-signature transactions.

Smart account infrastructure provider Safe today unveiled native token swap functionality integrated directly into SafeWallet, the world’s most popular multi-signature wallet. In collaboration with the CoW Protocol, this innovation aims to improve user experience by providing seamless, affordable and secure token swaps.

The newly introduced feature leverages the CoW protocol’s sophisticated aggregation and intent-based architecture to leverage massive liquidity pools across decentralized exchanges. This integration is designed to facilitate easy transactions by providing SafeWallet users with highly competitive pricing and a wide selection of tokens.

SafeWallet has shown significant traction, with average monthly swap volume since June 2023 reaching $450 million, compared to nearly $1 billion in March. These high trading volumes highlight the strong demand for integrated asset exchanges within the Safe community. Over the past three years, Safe Smart Accounts has achieved $23 billion in swap volume, highlighting the platform’s important role in the DeFi landscape.

This integration represents a notable improvement for SafeWallet users who previously had to rely on external platforms to perform token swaps. By embedding this functionality in SafeWallet, users can now get quotes directly from multiple decentralized liquidity sources to get the best price. Direct interaction with the CoW protocol simplifies the transaction process and improves user convenience.

Additionally, the intent-based swap mechanism used in this integration supports batch execution, reducing the risk of errors or expiration associated with multi-signature transactions. These advancements provide secure signers with improved accuracy, peace of mind, and a streamlined token exchange experience while also providing Miner Extractable Value (MEV) protection.

The introduction of native swaps comes at a pivotal moment for smart accounts, which are poised to surpass traditional Externally Owned Accounts (EOAs) as the preferred solution in the Web3 space. Safe continues to lead this transition through impressive ecosystem growth. Recently, the SafeDAO community voted to make the SAFE token transferable, further solidifying Safe’s position in the market.

“Native token swaps are a game changer for SafeWallet users, prioritizing a seamless experience and MEV protection through an intent-based architecture.” Lucas SchorSafe’s co-founders said in a statement:

“Security is the safest way to own assets. We share the Safe team’s vision for smooth and reliable transactions. Our collaboration streamlines the exchange process for SafeWallet’s broad user base while contributing to the continued growth of the CoW Protocol ecosystem,” said Anna George, Co-Founder of CoW Protocol.

Since launch, more than 7.5 million Safe smart accounts have been created, representing an impressive 290% year-on-year growth. Safe is solidifying its position as a cornerstone of the DeFi sector. This latest feature reinforces Safe’s commitment to providing a secure, efficient, and user-friendly platform for digital asset management.

Read: Secure, native collaboration to drive smart account adoption on Ethereum