2023-06-09 13:40:41
MetaMask Institutional (MMI), a renowned Web3 wallet for organizations, and Fireblocks, a platform specializing in secure DeFi access and crypto trading, have announced an association with the objective of providing institutional investors and blockchain developers with a comprehensive solution for secure access to decentralized finance (DeFi) and Web3 applications.
????We’re thrilled to announce our partnership with @FireblocksHQ.
Our integration will provide the most complete enterprise-grade wallet security and portfolio management solution for institutional investors and builders???? pic.twitter.com/UghokJT4QZ
— MetaMask Institutional (@MMInstitutional) June 8, 2023
METAMASK INSTITUTIONAL AND FIREBLOCKS PARTNER TO DRIVE INSTITUTIONAL WEB3 ADOPTION
The partnership benefits the more than 1,800 organizations currently using Fireblocksas they gain access to MMI’s extensive portfolio management solutions and seamless connectivity to over 17,000 DeFi and web3 applications.
By linking your Fireblocks accounts to MMI, Users can engage in a wide range of activities including investing, trading, lending, borrowing, liquidity provision, and asset bridging across various chains of Ethereum Virtual Machines (EVMs). The team behind the collaboration emphasizes that the security of the MPC wallet infrastructure and the Fireblocks Policy Engine for transaction governance and signing provides an additional layer of security for these operations.
MetaMask Institutional reciprocates collaboration by offering Fireblocks users a number of features to enhance their web3 portfolio management experience. These features include digital asset monitoring, protocol allocation breakdowns, and detailed transaction reporting, all conveniently accessible through a single dashboard.
In addition, the integration between MetaMask Institutional and Fireblocks also introduces team management setups with automated onboarding and portfolio views across the organization. This integration allows users to assess performance and profit and loss (P&L) attribution metrics for ERC-20 tokens and major DeFi protocols, providing valuable insights for informed decision making.
EXTENSIVE SOLUTIONS FOR INSTITUTIONAL INVESTORS
This comes at a time when the crypto industry is experiencing rapid development and growing institutional interest. And recent study conducted by EY-Parthenon revealed that almost 60% of institutional investors are actively exploring entry into the cryptocurrency spacerecognizing the long-term benefits of digital assets.
As institutional interest in the crypto market continues to increase, the demand for secure and efficient digital asset management solutions becomes increasingly critical. Therefore, Partnerships like this play a critical role in facilitating institutional engagement and driving the adoption of decentralized technologies. as the crypto industry continues to evolve and mature.
As more organizations recognize the potential and long-term benefits of digital assets, the demand for secure and efficient management solutions will continue to grow. By fusing wallet security, portfolio management, and connectivity to thousands of decentralized applications, this partnership paves the way for greater institutional participation and adoption of Web3 and DeFi, ultimately driving the growth of the crypto industry.
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