Safe partners with Bermuda to test shielded transactions for private smart accounts.
Regulation & Gov ·
Safe is collaborating with Bermuda to test shielded transactions paired with threshold-based control for organizations using Safe smart accounts. The integration is currently in beta, and Safe has launched a Privacy Design Partner Program to validate the feature against real workflows. Professional teams can now experiment with private balances, transfers, and transaction queues on testnet using Bermuda, described as a compliant privacy solution funded by Gnosis.
The partnership addresses a specific challenge: public blockchains expose financial activity that some organizations prefer to keep confidential—payroll, treasury execution, and pending transactions—while retaining the multi-signature controls and organizational oversight that Safe provides. Safe has explored multiple privacy approaches over the past year, including Cheshire, an internal research project using threshold cryptography and multi-party computation, which was demonstrated alongside Vitalik Buterin at EthCC[9]. Bermuda has built its product around Safe's multi-party account control requirements and is developing screening and policy enforcement for private transactions.
Design partners can test Bermuda on testnet and contribute feedback on threshold configuration, recovery, and organizational policies before broader release. Safe is still validating end-to-end security, audits, UX, recovery mechanisms, and compliance requirements. The scope of which privacy features require the same technical approach—whether private payments, confidential balances, or private DeFi activity—remains an open question.