SafeLabs, the startup behind the multisig SafeWallet, is launching an initiative to make it easier to access and earn using Societe Generale’s euro-pegged stablecoin, EUR CoinVertible. The move enables users to build their euro-denominated savings onchain, while earning DeFi-derived yield.
“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.”
As part of the initiative, Safe will enable users to connect to a dedicated vault for EURCV on decentralized lending protocol Morpho, which will payout yield directly in their Safe wallets. The vault taps Steakhouse Financial to curate DeFi earning opportunities.
EURCV is a MiCA-compliant, euro-pegged stablecoin issued by the Societe Generale-FORGE subsidiary.
Institutional DeFi advisory and research firm Steakhouse will oversee the deployment of EURCV into Safe Morpho vault, its risk parameters, and list of acceptable collateral assets, while aiming to provide “optimal capital allocation,” according to an announcement. Steakhouse is one of the largest curators on Morpho, where it manages dozens of vaults.
Safe, which started as a noncustodial wallet project spun out by Gnosis, recorded a fivefold increase in revenue in 2025, having processed some $600 billion in transaction volume. Its smart contract-based multisig test is generally considered to be the go-to option for security-conscious DAOs, foundations, and other institutional crypto users.
As part of a plan to reach $100 million in annual recurring revenue by 2030, Safe is expanding into new opportunities. In November, Safe partnered with Hypernative to embed automated transaction protection and policy controls directly into its wallets.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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