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Multis announces acquisition by Safe to expand wallet scalability

Web3/Crypto

Thibaut Sahaghian, team lead at Safe | LinkedIn

By Crypto Republique

Aug 14, 2024

Multis announced its acquisition by Safe, a smart contract wallet infrastructure provider. The focus will now be on enhancing the scalability of Safe's products beyond Ethereum, aiming to increase user adoption and further decentralization.

According to a press release by Multis, the partnership aims to simplify asset management across various blockchains by expanding Safe's product scalability beyond Ethereum. This acquisition aligns with both companies' shared mission of empowering users to operate independently of traditional financial systems and promoting greater decentralization in the web3 industry.

Thibaut Sahaghian, former CEO of Multis, will assume the role of Network Abstraction Lead within the Safe ecosystem. He and his team will focus on making digital asset adoption more accessible for businesses and individuals. According to a press release by Safe, Sahaghian and the former Multis team members will work together to address the challenges of cross-chain interaction through network abstraction, simplifying the management of assets across multiple blockchain networks.

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According to a press release by Safe, Sahaghian said, "Joining Safe is a game-changer for us. We’ve already been harnessing Safe’s robust infrastructure for years, and this is a new journey for us. It empowers us to broaden our mission, tapping into Safe’s expansive platform and extensive user base. Together, we’re set on building an ecosystem where digital assets and applications interact seamlessly across multiple networks, easing the path to adoption and creating a more integrated blockchain world."

Multis provides a financial software platform for Decentralized Autonomous Organizations (DAOs) and businesses to manage transactions with both USD and digital assets across multiple networks. Supported by Sequoia Capital and Y Combinator, Multis has been a leader in improving the crypto business user experience. According to Multis, the platform offers features like automated payments, batch transactions, fiat conversion, and integration with various wallets and accounting systems—all designed to streamline crypto operations and ensure the safety of crypto treasuries.

Organizations Included in this History

Safe

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