Safe Exchange Coin was created by software developer Daniel Dabek. A total of 2,147,483,647 Safe Exchange Coins were created and distributed in 2016 through crowdfunding efforts. In total, 99% of the supply was distributed to the market whilst the remaining 1% was kept to support future development.
In 2018, the dedicated Safex Blockchain was released making the old Safe Exchange Coins redundant. In this year the Safex Wallet was updated to allow users to burn their Safe Exchange Coins and receive their equivalent Safex Tokens and Safex Cash on the new blockchain. Users were airdropped 1 Safex Token and 0.0023 Safex Cash for every 1 Safe Exchange Coin burned.