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MetaMask Targeting Institutions With New Enterprise Wallet

Ethereum’s MetaMask Reaches 1 Million User Milestone
Ethereum’s MetaMask Reaches 1 Million User Milestone

MetaMask stands as an Ethereum wallet, and is aiming to pull in the institutional investors of the world into the decentralized finance (DeFi) space. It will do so through an institutional-grade wallet it aims to launch quite soon.

Plans For Institutional Innovations

MetaMask itself stands as a popular wallet in its own right, boasting an excess of 1 million active users a month. In October of this year, MetaMask even introduced token swaps, with plans of expanding its offering even more.

ConsenSys Developers had already identified that professional trading firms simply find DeFi protocols too inefficient at this time, noting the complete lack of robust tax, accounting, and P&L reporting services.

As the announcement itself stipulated that this upgraded version is specifically aimed at crypto custodians and trading firms, providing various features institutional players would appreciate.

This includes borrowing, swaps, lending, and investment across Ethereum applications. Furthermore, the announcement stipulated that the wallet will provide its users with security, operational, and even reporting features, which are all necessities when operating a professional DeFi trading desk.


Bringing In The Big Players

Curv, a digital asset custody firm, stands as the first to use this new upcoming wallet. Curv will integrate the new MetaMask wallet into its new DeFi product, which will be used by Curv’s existing clients, in turn. A prime example of the big names Curv operates with is eToro.

Itay Malinger stands as the co-founder and CEO of Curv, giving the mandatory statement about the matter at large. Malinger highlighted the growing need for DeFi solutions that are institutional grade, as these firms are left to resort to retail-level usage of MetaMask. The only other option for these institutional players is creating custom integrations with various apps in order to facilitate a workaround.

A Lucky Few Gets It Early

As the release of this new institutional wallet looms, ConsenSys Codefi will also launch an Early Adopter Program. This program will allow a select number of custodians, partners, and institutional trading firms to gain early access to this product. From there, these select clients will help shape specific features of it, as well.

It was just earlier this year when the mobile wallet for MetaMask was launched. Furthermore, the firm had upgraded the Web3 Browser Wallet, going to 8.0, adding a number of new features. Some of these features include the ability to select one (or more) accounts that are associated with a specific website.

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