Ethereum and decentralized finance space is growing exponentially, creating waves in the cryptocurrency industry.
One prominent name in the crypto space, MetaMask, has done quite a few developments adding newer solutions and features to its portfolio consistently tapping the potential of decentralized finance.
The Ethereum wallet and decentralized app are now going the Institutional way, adding capabilities for Institutional users.
MetaMask for Institutional Investors
ConsenSys, the software firm funding MetaMask announced the rollout of the institutional version of MetaMask.
The institutional version of MetaMask would be first rolled out for Curve, a digital assets custody provider that would imbibe the application in its operational systems. Curv would run the pilot version of the app, and after the test drive is completed, a new product would be ready for the company’s assets. DApp integrations. Security and technical roadblocks have somehow thwarted the complete adoption of DeFi by institutional investors.
The new product is specifically aimed at crypto custodians and trading firms and would showcase advanced tools that would help institutional investors. Users would be carrying out all the actions like lending, investment, token swaps, and borrowing on the Ethereum blockchain using the application.
The institutional version of MetaMask would facilitate advanced reporting and sophisticated DeFi trading platform to the users ensuring safety and operational efficiency.
The Global Fintech Co-Head Patrick Berarducci of Consensys said that “We are excited to partner alongside technology leaders like Curv to build institutional-grade operations and compliance that traders need in order to start growing their participation in DeFi,”
Curv Co-founder Itay Malinger said that “We believe by combining our unique multi-party computation (MPC)-based security infrastructure with MetaMask we will be able to play a significant role in the institutional adoption of DeFi,”.
The company is looking forward to the MetaMask institutional version since there are no secure and reliable solutions present for the same.
The product’s commercial launch would be done after the Consensys Codify team works with selected partners and trading firms to develop the product features. The selected partners, firms, and custodians can help create the product roadmap and gain access to the MetaMask Institutional version earlier than others.
The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.