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Safe, the crypto self-custody company formerly known as Gnosis Safe, has launched Safe Labs, a wholly owned commercial subsidiary that will build institutional products on its Safe Smart Accounts wallet system. Co-founder Lukas Schor said the unit is building enterprise-grade infrastructure, and Rahul Rumalla, formerly Safe's chief product officer, will lead it. Rumalla said Safe secures $60 billion in assets and powers 4% of all Ethereum transactions. The article also notes that Safe Smart Accounts still require blind signing for many onchain interactions, a risk tied to the $1.4 billion Bybit hack in February.