Metamask works with Bitgo, Qredo and Cactus Custody to improve acceptance
Metamask works with Bitgo, Qredo and Cactus Custody to improve acceptance
METAMASK-the rapidly growing and very popular Ethereum software wallet-plans to bring Defi to large crypto-related institutions. They have teamed up with three crypto custodians to react to different organizational needs. These are Bitgo, Qredo and Cactus.
Metamask brings Defi to large crypto companies
Consensys-the Ethereum software company that has developed Metamask- reveals the news in a current blog post. As part of the new partnership, institutions can access Web3 and Defi services via the Wallet "Metamask Institutional (MMI)". In the meantime, you will also meet the custody and supervisory requirements provided by these institutes in order to safely protect customers' assets.
According to Consensys, the fulfillment of operating, compliance and security requirements for market maker, trading desks and leading cryptofond fund was a constant struggle. Metamask was institutional 2020 to solve this problem.
"The focus of Metamask is institutional to offer unrivaled access to Defi even under strict institutional requirements," says Johann Bornman, Product Lead for MMI. "Qualified custody banks and depot technology play a fundamental role in these requirements."
Every crypto custody cautious with whom Metamask has received a partnership meets different organizational requirements in terms of crypto storage.
Bitgo is a pioneer of multi-signature wall and was "the first digital asset company that focused exclusively on institutional customers". Qredo is a decentralized custody solution that is secured by multi-party computation and eliminates the risk of operating private keys. Cactus Custody is a trust company based in Hong Kong, which, in addition to defi connectivity for companies, offers both warm and cold storage.
The quick growth of metamask
Metamask quickly developed into a integral part of the defi area in 2021. In one year it has achieved Monthly active users of 1,800 %that now exceeds 10 million.
Mike Belshe - CEO of Bitgo - explained that many of her customers want to participate in Defi and that Metamask is their first solution:
"Metamask is the gold standard of defi wallet and the Integration of metamask institutionally with bitgo wallets enables key management and custom guidelines to remain in Bitgo, while MMI acts as an interface between our Wallet platform and all dapps."
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