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Gnosis Pay, a payments solution tied to Gnosis Chain, is set to come out in a little over a week.<\/p>\n
It’s the latest in a series of developments for Gnosis, which was founded in 2017 and shifted into a DAO in 2020. GnosisDAO later created the Gnosis Chain and incubated Gnosis Safe, and both products appear to have continued to drive demand. <\/p>\n
Gnosis Safe, now known as Safe, spun<\/a> off from the GnosisDAO in 2022, and now stores more than $39 billion of assets, according to its website<\/a>, Another estimate<\/a> shows that the US value of all the ERC-20 tokens in Safe accounts is approximately $58 billion.<\/p>\n With Gnosis preparing its payment product \u2014 which appears to feature either a credit or debit card \u2014 and Safe receiving $100 million as part of their rebrand<\/a> Last July, it’s about time to take a closer look at these intertwined entities.<\/p>\n Safe said Thursday it will include on- and off-chain euro payment capabilities through a partnership formed with stablecoin issuer Monerium. <\/p>\n Monerium’s fiat solution is set to be integrated on Safe’s platform, making Safe accounts “seamlessly connected to the SEPA payment system, eliminating the need for additional off-chain bank accounts, ramps, or centralized exchanges,” a statement said.<\/p>\n Safe accounts will be able to receive euros from external bank accounts because the Monerium integration will convert the fiat into its euro stablecoin, EURe. And if a Safe account holder wants to send its EURe, a similar process will happen in reverse, the statement said.<\/p>\n according to a proposal<\/a> put forth by MakerDAO community member Karpatkey, Spark Lend could be migrating to Gnosis Chain.<\/p>\n Spark Lend created through the launch of the Spark Protocol<\/a> in May 2023, is a lending engine powered by Maker, and users can debt<\/a> DAI from Maker at a 3.43% interest rate.<\/p>\n Gnosis and Maker have had a longtime partnership: GnosisDAO contributed around $140 million to Maker’s vaults, and GNO, Gnosis’s native token, was already listed as collateral on Spark Lend, according to Karpatkey.<\/p>\n gnosis selected<\/a> Succinct Labs’ Ethereum ZK Light Client as the solution to secure its mainnet omnibridge.<\/p>\n The Gnosis Omnibridge bridges<\/a> ERC-20 tokens between Gnosis Chain and a number of other chains, including Ethereum, Binance Smart Chain, and the POA Network.<\/p>\n Gnosis told its users that this will increase security for anyone who bridges “assets or data from Ethereum into Gnosis Chain.”<\/p>\n The ZK Light Client has been around eight months in the making, with Succinct’s first demo application dropping in November 2022, according to a tweet<\/a>,<\/p>\n Although public details surrounding Gnosis Pay have been scant, the product’s launch site offers some solid indications.<\/p>\n There’s an image of the front and back of an upcoming credit or debit card emblazoned with Gnosis’ insignia.<\/p>\n And a hint was dropped about Gnosis Pay in Karpatkey’s Spark Lend proposal.<\/p>\n \u201cThis month Gnosis Pay will be launching, allowing the issuance of credit cards. This opens up [sic] many collaboration opportunities with Spark ie allowing users to spend from their collateral in Spark,\u201d Karpatkey wrote.<\/p>\n Gnosis Pay was set to launch in mid-July, more or less coinciding with the EthCC conference in Paris.<\/p>\n Get the day’s top crypto news and insights delivered to your email every evening. Subscribe to Blockworks’ free newsletter<\/a> now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief<\/a>,<\/strong><\/p>\n Can’t wait? Get our news the fastest way possible. Join us on Telegram<\/a> and follow us on google news<\/a>,<\/strong><\/p>\nSafe partners with Monerium for European transactions<\/h2>\n
MakerDAO wants to deploy Spark Lend on Gnosis Chain<\/h2>\n
Gnosis chain security upgrade<\/h2>\n
Gnosis Pay coming soon<\/h2>\n
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