Author: Stephen Katte, CoinTelegraph; Compiler: Deng Tong, Golden Finance

Multi-signature wallet and digital asset platform SAFE is preparing to launch a blockchain transaction processor network next year that will allow funds to be Make instant cross-chain payments before leaving the user's account.

Safe co-founder Lukas Schor pointed out that its decentralized transaction processor network Safenet (announced on December 3) was inspired by Visa’s payment network VisaNet.

VisaNet provides global payment processing, allowing instant transactions and providing merchants with payment guarantees until funds pass through a series of checks and are sent days later.

“We also want to have the same experience in crypto, at the same speed, so we don’t want to wait for transactions to be mined,” Schor said. “When you do cross-chains, it takes a long time. . We want to scale.”

According to Schor, Safenet is not a blockchain but a connectivity layer for existing networks, allowing users to interact with any blockchain through a single account.

The network is powered by a processor, Schor said, and it expects to have a processor supporting cross-chain accounts and liquidity capabilities when it launches in the first quarter of 2025.

“We want to replicate many of the security processes within Visa, such as fraud checks or compliance checks,” Schor said.

Safenet can temporarily retain assets on user accounts through smart account resource locks and allow processors to execute transactions and debit users through cryptographic proof of execution.

Schor said that the open system allows more processors to join and provide services as part of the transaction life cycle, such as security, compliance, automation, subscriptions, connecting on-chain balances to off-chain services and providing the required liquidity to service users.

There will also be incentives in the ecosystem, backed by the SAFE token. Validators can earn a portion of the fees as a reward for validating transactions and staking.

Source: Lukas Schor

One use case could be mortgages, Schor said.

“If you have a processor that is maybe more of a trustworthy processor and has some direct user relationship with that processor, then they can actually provide you with funds, and they can— — they don’t need any overcollateralization,” he explained.

Schor said users can also sign mortgage-like agreements with banks in the traditional financial system.

Users obtain the funds needed for their purchases and put the asset as collateral to ensure they can repay.

"Suppose I wantBenefit from the advantages of cryptopunk. I don't have enough money to buy CryptoPunk. I have 20% down and the processor can give me that money," Schor said.

Safenet plans to go live in 2025 with an alpha version in the first quarter, and the validator network is planned for the second Launched quarterly, version 1 of the protocol is expected to go online in the third or fourth quarter of 2025 and feature a co-processor open liquidity network