Ethereum-Based MetaMask Wants To Win The Institutional DeFi Market

Ethereum-based Metamask wallet wants to win the institutional DeFi market and Curv will be the first to integrate the new version of the wallet as we are reading more in the latest eth news today.

Consensys will add more enterprise-grade features to MetaMask to aid institutional Defi adoption with the first crypto company to a partner being Curv. The early Adopter program will add more partners looking to integrate Ethereum-based MetaMask wallets with their platforms.
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Over the past year, ETH wallet and decentralized app browser MetaMask introduced a mobile app that was upgraded to a new privacy-centric version and added token swaps in order to capitalize on the explosion of DeFi which was a risky choice at the beginning.

Now, ETH software company Consensys that provides funding for MetAMask announced the intention to launch an institutional-level version of the wallet. It is now preparing the final product and it even introduced its first user- Curv, the digital asset custody company that will be trying out its systems. The result will be a new product for the digital assets company which already serves customers such as eToro.

From Curv’s perspective, DeFi hasn’t transitioned from retail investors to institutional investors because of issues with dapp integration, security, and protocol support. There is over $14 billion worth of value locked in DeFi protocols for derivatives and lending but frequent attacks on platforms like Pickle finance and Harvest Finance, made the companies second guess about investing and managing assets.

Curv co-founder and CEO Italy Malinger said:

 “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.”

Stani Kulechov who is the CEO of Aave commented:

 “Curv’s iteration of DeFi will allow institutional customers to interact with all smart contracts, removing both operational inefficiencies and risks.”

The Ethereum-based MetaMask is expected to jumpstart the DeFi adoption, as Consensys spokesperson James Beck said:

“We are launching the Early Adopter program so that ConsenSys can create customer relationships with custodians and professional trading firms, and give them early influence in the product features and development roadmap. We can leverage the institutional reach of ConsenSys to drive adoption to MetaMask and DeFi applications.”

In addition to enterprise-grade security features, the wallet will integrate features for tax reporting and compliance for all those companies that are concerned about staking and earning that comes along with managing DeFi networks.