MetaMask Inks Three New Partners to Attract Institutional Investment into DeFi

BitGo, Qredo, and Cactus Custody will help MetaMask Institutional onboard major clients, creating a DeFi onramp for institutional investors.

By
Robert D. Knight
on
October 6, 2021
Category:
Blockchain News

Institutional DeFi Onramp

MetaMask has inked three new partnership deals to bring greater institutional involvement in Decentralized Finance (DeFi).

BitGo, Qredo, and Cactus Custody will integrate with MetaMask Institutional (MMI), a standalone MetaMask product for institutional investors. MMI is designed to fulfill the needs of crypto funds, market makers, and trading desks.

The integration will allow organizations to leverage custodians in concert with MMI - creating an institutional onramp for DeFi. Mike Belshem, the CEO of BitGo, explained the benefits of the deal.

“As the DeFi ecosystem matures, many of our institutional clients are interested in actively participating,” Belshe said in a press release on Monday, October 5th. “MetaMask is the gold standard of DeFi wallets, and the integration of MetaMask Institutional with BitGo wallets allows for key management and custom policies to remain in BitGo, while MMI acts as an interface between our wallet platform and all dapps.”

Custodial solutions constitute a significant feature of institutional crypto. Custodians hold the fiduciary responsibility of storing private keys and deciding whether to approve or decline transactions. MetaMask’s partnership with BitGo, Qredo, and Cactus Custody makes institutional involvement in DeFi much easier.

“MetaMask Institutional’s focus is to provide unrivaled access to DeFi even in the face of rigorous institutional requirements. Qualified custodians and custody technology play a fundamental part in these requirements,” said Johann Bornman, Product Lead for MMI.
MetaMask Institutional - not your standard MetaMask wallet | Source

About ConsenSys (MetaMask)

ConsenSys is a leading Ethereum software company. It enables developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. The ConsenSys product suite comprises Infura, Quorum, Codefi, MetaMask, Truffle, and Diligence. 

To Find More About Consensys:

Website | Twitter | Discord | Medium |

About BitGo

BitGo is a digital asset financial services leader, providing institutional investors with liquidity, custody, and security solutions. Founded in 2013, BitGo pioneered the multi-signature wallet and is the first digital asset company to focus exclusively on serving institutional clients.  Active in both centralized and decentralized finance, BitGo offers market-leading trading, lending, and borrowing services through its prime brokerage services and acts as the custodian for WBTC, with more than $10 billion in custody and circulation. In 2020, BitGo launched BitGo Portfolio and Tax, providing clients with a full-stack solution for digital assets. 

In 2018, BitGo launched the BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo processes approximately 20% of all global Bitcoin transactions and supports over 400 coins and tokens. BitGo provides the security and operational backbone for over 500 institutional clients in 50 countries, including many regulated entities and the world’s top cryptocurrency exchanges and platforms. BitGo is backed by Goldman Sachs, Craft Ventures, Digital Currency Group, DRW, Galaxy Digital Ventures, Redpoint Ventures, and Valor Equity Partners.

More Information on BitGo at these links:
Website | Medium | Twitter |

About Qredo

Qredo is a decentralized digital asset management infrastructure and product suite designed to unlock new opportunities for institutional investors in digital assets and decentralized finance. Qredo’s Layer 2 blockchain protocol enables users to seamlessly transfer and settle BTC, ETH, and ERC-20 tokens. Assets are secured by Qredo’s advanced Gen 2.0 multi-party computation (MPC), which provides tier-1 bank security and institutional-grade governance.

Learn More About Oredo here:
Website | Twitter | Medium | Telegram | Discord | GitHub |

About Cactus Custody

Cactus Custody is the third-party institutional custody service provided by Matrixport, Asia’s fastest-growing digital assets financial services platform. It is a qualified custodian and a Hong Kong Trust Company that meets the capital reserve requirement and acts within regulatory and AML guidelines. Besides Bank-grade security, Cactus Custody offers powerful and flexible enterprise crypto management functions that make day-to-day operations hassle-free and risk-free. The company safeguards over USD 10 billion for 60+ clients. Clients can also access spot trading and earn interest by lending out their assets within Cactus Custody.

Cactus Custody has more information here:
Website | Twitter | Telegram |

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Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy in ETH and BTC, plus he also hodls some smaller cryptocurrency.

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