Safe establishes a new development department, Safe Labs, to consolidate operations and enhance its product roadmap

According to CoinDesk, multi signature wallet Safe announced the establishment of a new development department, Safe Labs, ending the industry's common model of outsourcing technology development to third-party companies, in order to consolidate operations and enhance its product roadmap. Rahul Rumalla, CEO of Safe Labs, stated that the department will be directly affiliated with the non-profit organization Safe Foundation. Rumalla pointed out in an interview that this adjustment marks Safe's strategic transformation, aimed at developing products that simultaneously meet the cultural concepts of cypherpunk and the needs of corporate customers. He emphasized that there is a common dilemma in the industry where safety and convenience must be chosen, and Safe Labs refuses to accept this compromise framework. We will strive to break this either or model. ”According to Rumalla, the ByBit hack was a catalyst created by Safe Labs.