Smart account platform Safe: DeFi net assets reached $12.4 billion by the end of the third quarter.

Safe reported that its smart accounts held $12.4 billion in net DeFi positions at the end of the third quarter, after deducting $2.37 billion in borrowings from $57.64 billion in total account assets. The platform included DeFi positions in its asset reporting for the first time, and total account assets rose from $27.24 billion at the end of the second quarter, a increase the company also attributed to a 66% rise in ETH. Stablecoin balances in Safe accounts grew 15% to $7.48 billion, while quarterly transfer volume reached $44.75 billion, up 13.7% from the prior quarter. The disclosure marks the first detailed look at how much of Safe's account base is deployed in DeFi borrowing and lending rather than held idle. Watch whether Safe breaks out DeFi exposure by protocol or chain in future reports, and whether the metric becomes a benchmark for tracking smart-account capital at work.