ConsenSys-backed digital wallet MetaMask has announced the creation of institutional-grade infrastructure for connecting to decentralized finance (DeFi) market.
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According to an official announcement, ConsenSys will begin offering trading firms and cryptocurrency custodians an institutional-grade version of MetaMask. The new version of the wallet enables secure use of DeFi protocols and other applications, the company said. Curv, a digital asset security infrastructure, will reportedly be the pioneer to integrate the new version of MetaMask.
Patrick Berarducci, Global Fintech Co-Head at ConsenSys, says that with Curv, MetaMask will build institutional-grade operations and compliance "that traders need in order to really start growing their participation in DeFi."
In October 2020, MetaMask reached 1 million monthly active users for the first time. The growth of user base is allegedly triggered by the DeFi boom. Over the past year, MetaMask witnessed significant growth in the adoption of DAOs, Web3 games and the rapid consumer uptake of DeFi products.
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