Smart wallet infrastructure leader Safe has partnered with digital asset banking group Sygnum and recovery service provider CoinCover to introduce Safe RecoveryHub. This platform aims to address the challenge of inaccessible digital assets, which is estimated to be over 900K ETH (valued at $1.92 billion) due to forgotten keys.

Safe RecoveryHub offers various recovery options, including a “social recovery” feature that involves personal connections and trusted service providers like Sygnum and CoinCover. Users maintain control over their assets and grant recoverers access only during recovery events, with full veto rights at all other times. They can also designate multiple recoverers, aligning with Ethereum co-founder Vitalik Buterin’s advocacy for a flexible recovery approach.

Lukas Schor, Co-founder of Safe, emphasized the importance of empowering users to tailor recovery solutions to their risk preferences, marking a significant milestone in financial sovereignty.

Thomas Eichenberger, Chief Product Officer of Sygnum, highlighted the need for additional safeguards to complement self-custody for individuals holding valuable digital assets. This balance between financial sovereignty and risk management is crucial.

The collaboration between Safe, Sygnum, and CoinCover for Safe RecoveryHub represents a crucial step towards enhancing financial sovereignty. It empowers users with customizable and secure solutions for accessing their digital assets.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Europe
Countries
Sentiment	very positive
Relevance Score	1
People	Thomas Eichenberger, Lukas Schor, Vitalik Buterin
Companies	Safe, CoinCover, Sygnum
Currencies	Ethereum
Securities	None