By Berlin, Germany, February 25, 2025
Safe{Labs}, operator of the multisig Safe{Wallet},, today announced a new initiative to make euro-denominated onchain savings simpler and more accessible, bringing a euro-native savings and yield experience into a mainstream smart account flow.
As part of the initiative, Safe will allow its users to connect to a dedicated vault on the Morpho decentralized protocol and access to the EUR CoinVertible, a euro-pegged stablecoin issued by Societe Generale-FORGE, for lending and borrowing.
EUR CoinVertible, a MiCA-compliant stablecoin, is designed to support euro-denominated use cases on-chain – including DeFi, payments, and treasury operations – for retail and institutional investors.
Through this deployment, Safe users will be able to deposit their EUR CoinVertible into a dedicated Morpho vault curated by Steakhouse Financial, seamlessly earn DeFi yield within their Safe {Wallet}.
Steakhouse Financial will oversee the deployment of EUR CoinVertible into Safe Morpho vault, supervise the list of eligible crypto assets used as collateral, ensure optimal capital allocation and manage the risk of default as a last resort.
“European users managing serious capital need the same quality of earning infrastructure that exists for dollar stablecoins,” said Rahul Rumalla, CEO at Safe Labs. “This is about bringing institutional-grade EUR yield into self-custody, with a product experience that works at scale.”
Safe is launching a limited-time EUR yield campaign allowing Safe users to get additional EURCV, in addition to the native lending and borrowing yield.
This announcement builds on Safe Labs’ push to bring institutional-grade infrastructure into self-custody workflows, including its November 2025 partnership with Hypernative to embed automated transaction protection and policy controls directly into the Safe experience. Together, these efforts reflect the same direction: make it easier for teams managing meaningful onchain value to operate with stronger defaults, across both security and euro-denominated savings.
About Safe Labs
Safe Labs GmbH builds enterprise-grade smart account infrastructure that brings Safe Smart Accounts to business and institutional use cases. Headquartered in Berlin, Germany, Safe Labs provides products and services for organizations adopting smart accounts at scale. Safe Labs GmbH is a wholly owned subsidiary of the Safe Ecosystem Foundation.
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