Non-custodial crypto wallet Safe reports fivefold revenue jump in 2025, not yet at 'break-even' profitability
The Safe Ecosystem Foundation, the organization beyond the major non-custodial crypto wallet, reportedly saw its revenues spike fivefold last year.
According to an announcement on Tuesday, the foundation reported more than $10 million in project-wide annualized revenue for 2025, up from approximately $2 million at the end of 2024.
"We are one of the very few token projects in the industry that shows long-term sustainable adoption and significant revenues that do not rely on token subsidies or purely speculative use-cases," Lukas Schor, co-founder of Safe project and President of Safe Ecosystem Foundation, wrote.
Indeed, according to the announcement, Safe processed $600 billion in transaction volume during 2025, representing 43% of the protocol's entire lifetime volume, with the network handling 326 million transactions.
While the project is “not yet profitable,” the non-profit said it plans to "break even and double revenue in 2026," are part of a longer-term goal to reach $100 million in annual recurring revenue by 2030.
Safe (formerly Gnosis Safe) is the leading smart contract-based multisig wallet platform in the crypto space. The project is used widely by DAOs, foundations, and other institutional crypto users. The team reported that users deployed 18.3 million new smart accounts last year, averaging a new account every 1.7 seconds.
For instance, the Ethereum Foundation migrated its entire treasury of about 160,000 ETH (worth about $650 million) to a non-custodial Safe account. Circle, too, tapped Safe to store $2.5 billion in USDC as part of its treasury management.
Other firms use Safe’s open-source tech to build their own consumer-facing products. Hardware wallet manufacturer Ledger “launched its enterprise multisig product built on Safe,” while EU-based exchange Bitpanda shipped a self-custodial wallet powered by Safe, the team noted.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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