Coinbase, a leading cryptocurrency exchange in the US, has added a new Ethereum altcoin called Safe to its platform. Safe has been listed as an “experimental asset” and is now available for trading on Coinbase.com as well as the Coinbase iOS and Android apps. Customers can buy, sell, convert, send, receive, or store Safe tokens on the platform.

The “experimental asset” label is used by Coinbase for tokens that carry certain risks, such as price fluctuations and limited trading volume. This allows users to be aware of the potential risks associated with trading these assets.

In addition to Coinbase, the Singapore-based exchange Bitrue will also list Safe for trading starting April 25th. The trading pair will be SAFE/USDT, and users can make deposits from April 24th, with trading opening on April 25th, and withdrawals available from April 26th. Bitrue is also planning to introduce a staking program where users can stake GNO and SAFE and earn up to 20% APR.

Furthermore, the Seychelles-based exchange MEXC will list Safe in its “Innovation Zone” and offer trading for the SAFE/USDT pair. The deposit opening time is scheduled for April 25th, with trading starting on the same day, and withdrawals becoming available on April 26th.

At the time of writing, Safe is trading at $1.90, experiencing a 13.5% decline in the last 24 hours.

Safe, previously known as Gnosis Safe, is the governance token for Safe Protocol, a decentralized finance custodian. The protocol aims to enhance Ethereum accounts by enabling them to support various new use cases, including artificial intelligence, staking, gaming, payments, and easier logins.

Richard Meissner, co-founder of Safe, emphasizes the importance of governance and consensus in growing the ecosystem sustainably. The Safe token plays a crucial role in achieving this goal, as it allows for the transfer of value within the ecosystem and enables new participants to join. Meissner also highlights that with the token now being transferable, the implementation of various features and functionalities can be initiated.

It’s important to note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before engaging in high-risk investments. The Daily Hodl, where this article is sourced from, does not endorse the buying or selling of cryptocurrencies and digital assets, nor does it provide investment advice. Readers are responsible for their own transfers and trades, and any potential losses incurred are their own responsibility.