Crypto Wallet Provider Safe Launches Developer Stack Enabling Account Abstraction

The open-source stack will allow developers to build Web3 apps that enable account abstraction while maintaining a Web2 user experience.

AccessTimeIconMar 1, 2023 at 3:00 p.m. UTC
Updated Mar 1, 2023 at 4:30 p.m. UTC

Safe, the maker of a popular crypto wallet that branched off of Gnosis, is launching Safe{Core}, an open-source stack for developers that enables Account Abstraction, a key Ethereum upgrade.

Account Abstraction turns Ethereum accounts into smart contract accounts, allowing users to have a more user-friendly crypto experience and enabling social recovery (meaning users can regain access to their accounts in the event that their keys are lost).

The release of Safe{Core} will allow developers to build Web3 apps with Account Abstraction in a Web2-level user experience, Safe said. As part of the release of Safe{Core}, Safe is teaming up with payment processing giant Stripe, and web3 infrastructure firms Gelato and Web3Auth, to help enhance “fiat on-ramping,” “transactions fees,” and “authentication,” according to their press release.

Account Abstraction has made a lot of noise recently in the Ethereum ecosystem. It is seen as a major upgrade that can improve user experience, and make it harder to lose access to one’s crypto holdings.

In December, Visa released a blog saying it would consider using Account Abstraction on StarkNet, a layer 2 network atop Ethereum, to execute automatic crypto payments.

The news from Safe comes after a previous announcement that the company’s Account Abstraction infrastructure and software developer’s kit (SDK) went live on Coinbase’s newly launched layer 2, Base. This allows developers to start building applications that use smart contract wallets with Safe’s SDK on Base’s Goerli testnet.

“Account Abstraction makes it so that they don't have to worry about your account on Web3 anymore,” said Richard Meissner, the co-founder of Safe.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Margaux Nijkerk

Margaux Nijkerk reports on the Ethereum protocol and L2s. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a small amount of ETH and other altcoins.