The popular cryptocurrency wallet Web3, MetaMask announced a new Early Adoption Program aimed at creating institutional access to DeFi. Together with Curv, MetaMask will launch an institutional version of its wallet aimed at high-end investors. The news was announced in a press release on December 10.
As the most popular Ethereum wallet of all, MetaMask provides its services to more than 1 million monthly active users. Popularized during the DeFi rush in 2020, the platform soon became the most widely used web wallet, thanks to its simplicity and portability.
Now, the team has plans to provide crypto custody services to professional and institutional traders. In partnership with ConsenSys, the Web3 wallet will soon be available in a secure and transparent form created exclusively for institutions.
Clients can exchange tokens, borrow and lend, gamble, invest, and much more. However, ConsenSys notes that the new product offers completely revamped features, with improved security and operational performance.
Patrick Bararducci, Global Co-Head of Fintech at ConsenSys, commented on the development stating the following:
“MetaMask is the best non-custodial experience for interacting with DeFi applications. We are excited to partner with technology leaders like Curv to build compliance and institutional grade operations that merchants need to really start growing their DeFi stake. ”
Curv, a digital asset security company, is the first partner to integrate the new Metamask product and offer it to institutions. The wallet will be used and supported with the help of Curv's digital asset security infrastructure.
Curv CEO Itay Malinger believes his company will play an important role in institutional adoption of DeFi. Furthermore, he stated that Curv will help MetaMask improve its security and stability.
First user program
Before finally launching the institutional version of MetaMask, ConsenSys will first have an Early Adoption Program. The company will work together on the Web3 wallet with various custodians, partners, and professional trading firms. These partners will use an early access version of MetaMask and will take an active role in shaping the final product.
ConsenSys urges all interested parties to get in touch and find out how to join the Early Adoption Program. All parties who join the program will have access to enterprise security, better risk management and operational controls. Plus, the alpha version also features easy reporting and tax compliance.
At the time of this writing, the decentralized finance (DeFi) market is home to around $ 14 billion in secured assets. Additionally, Dune Analytics statistics show that the industry has over 1 million users as of December 3.
If MetaMask truly makes it possible for institutional entities to enter the DeFi space, we may see an incredible new wave of exponential growth.
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