Safe Hits $10 Million Annualized Revenue, Targets 2026 Breakeven

Smart account protocol Safe reports $10 million in annualized revenue as institutional adoption expands, while S&P Global Ratings debuts a risk assessment framework for the $10 billion onchain lending market.

1. Safe Reports $10 Million Annualized Revenue, Eyes 2026 Breakeven Smart account protocol Safe posted over $10 million in annualized revenue, up from $2 million in late 2024, without relying on token subsidies. The network processed $600 billion in volume in 2025 and plans to transition $SAFE into a functional network asset.

2. S&P Global Ratings Launches Vault Risk Assessments for Onchain Lending S&P Global Ratings introduced its Vault Risk Assessment model to evaluate onchain lending vehicles across six risk categories. The framework targets a digital asset vault market that expanded to approximately $10 billion in deposits by September 2026.

3. Plume Debuts nBND Vault Backed by Fidelity's Total Bond ETF Plume launched the nBND vault to offer onchain exposure to Fidelity's actively managed FBND fund. The vehicle extends tokenized fixed income beyond short-term Treasuries, following a surge in the tokenized U.S. Treasuries market to $15 billion in June 2026.

4. Payward Integrates Singapore Gulf Bank for 24/7 Settlement Kraken's parent company, Payward, integrated SGB Net to provide continuous, real-time US dollar settlement for institutional accounts. Singapore Gulf Bank will source digital asset liquidity directly from Kraken Prime to price client transactions.

5. Russian Finance Ministry Pays Staff Salaries in Digital Rubles Several Russian Ministry of Finance employees received their salaries in digital rubles on Oct. 1, 2026. The move marks an expansion of the central bank digital currency into the state budget process following a broad public rollout on Sept. 1, 2026.

6. Federal Register Lists Proposal to Ban A7 Network Sub-Agent Transmittals The Federal Register listed a proposal of a special measure regarding the A7 network's sub-agents. The measure proposes prohibiting the transmittal of funds for transactions involving those designated intermediaries.

Numbers

Bitcoin trades at $86,110, up 1.0% over the last 24 hours, while Ether is up 0.5% at $2,717, and the total crypto market capitalization stands at $2.90 trillion.

Watch

• Release details for Safe's 2026 utility protocol designed to transition the SAFE token into a functional network asset.
• Publication of S&P Global Ratings' initial batch of public vault evaluation scores and individual protocol letter marks.
• The publication of digital ruble transaction volume data for the final quarter of 2026 to assess voluntary adoption rates among public sector workers.