Safe Foundation forms Safe Labs to run Safe{Wallet} and build enterprise products, with Rahul Rumalla as CEO

Safe/Safe Smart Account

The Safe Ecosystem Foundation set up Safe Labs, a wholly owned commercial subsidiary that operates the Safe{Wallet} app and builds self-custody tools for businesses. Rahul Rumalla, until then Safe's chief product officer, became its CEO.

• Safe then reported about $60B in assets secured and $1T in total volume.
• Safe handled nearly 2% of all Ethereum transactions in May 2025.
• Focus: wallet-as-a-service and institutional asset-management tools on Safe accounts.