As the DeFi space continues to grow, ConsenSys has now announced a new offering from the leading wallet provider MetaMask. It will enable cryptocurrency funds, professional traders, and custodians with institutional-grade controls and applications for decentralized finance.
- The blockchain technology solutions provider ConsenSys has announced today a new offering oriented toward the growing space of decentralized finance (DeFi).
- In a press release shared with CryptoPotato, the company reiterated the massive growth of the DeFi space over the past year.
- Data from DeFi Pulse shows that the total value locked in various protocols is now over $14 billion, charting an increase upwards of 2,500% since the beginning of 2020.
- As such, custody providers seek increased exposure, as well as access to the diverse opportunities that DeFi brings but the current process remains inefficient for professional trading firms.
- In an attempt to solve these pressure points ConsenSys will be offering crypto custodians and trading firms an institutional-grade version of the popular MetaMask wallet.
- As such, users will be able to borrow, lend, swap tokens, and invest in ETH applications with the increased operation, security, and reporting features that are necessary for institutions.
- The first partner of ConsenSys in this regard will be Curv – one of the leading platforms in digital asset securities, which will integrate MetaMask in its security infrastructure.
- Speaking on the matter was Patrick Berarducci, Global Fintech Co-Head at ConsenSys, who said:
“MetaMask is the premier non-custodial experience for interacting with DeFi applications. We are excited to partner alongside technology leaders like Curv to build institutional-grade operations and compliance that traders need in order to really start growing their participation in DeFi.”
- The 2020 DeFi boom surely affected MetaMask positively. As CryptoPotato reported earlier in October, the wallet topped upwards of 1 million monthly active users amid the growing hype around the industry.