MetaMask and Fireblocks join forces to win over institutional customers

The wallet MetaMask Institutional from ConsenSys moves closer to the Fireblocks. Objective: to offer 1800 organizations Fireblocks customers access to a range of solutions and features crypto for institutional.

ConsenSys and Fireblocks have joined forces for institutional customers. The former continues to develop its offering for this clientele. After the creation of a dedicated version of its wallet MetaMaskfollowed by a marketplace for staking, the publisher signs an agreement with another market leader, Fireblocks.

Presenting itself as an enterprise platform providing a secure infrastructure for transferring, storing and issuing digital assets, Fireblocks claims over 1,800 customer organizations.

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Connection between Fireblocks account and MMI wallet

The two players announce the integration of their respective solutions. Starting June 12, MetaMask Institutional (MMI) will be directly interconnected with Fireblock. The promise is that users will be able to access over 17,000 DeFi and Web3 applications by connecting a Fireblocks account to MMI.

Once connected, organizations can trade, invest, lend, borrow, provide liquidity and link assets between EVM chains with MMI, while benefiting from the security of Fireblocks’ MPC portfolio infrastructure and policy engine for transaction governance and signing,” the partners detail.

ConsenSys announces a enhanced portfolio management through supervision of assets and transactions from a unified dashboard. The editor also highlights the ability to swap tokens and ETH stakes directly from the wallet.

All-in-one and corporate functions

Among the benefits of this integration, he stresses the following team management parameters with automated integration and organization-wide portfolio views, as well as performance and attribution metrics for ERC-20 tokens and major DeFi protocols.

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The integration between MetaMask Institutional and Fireblocks comes as “the crypto industry continues to experience promising development that is fueling institutional interest and adoption”, justify the two players.

However, the crisis of 2022 and the tightening of regulations, particularly in the United States, have had the effect of slowing down this adoption. Family offices’ interest in crypto has waned, Goldman Sachs observed.

One for all and all for institutional investors

The aim of this collaboration is to combine forces in order to conquer a target considered lucrative and in full development. Citing an EY-Parthenon study, ConsenSys asserts that almost 60% of institutional investors are striving to enter the digital asset market.

With the exponential increase in demand from organizations to enter web3, MetaMask Institutional is focused on providing the most extensive access to the ecosystem while satisfying the most diverse and rigorous institutional requirements,” boasts Johann Bornman, Global Product Lead for MetaMask Institutional.

The publisher also announces that it has integrated 11 new custodians into its MMI wallet through partnerships around the world. Institutional users now benefit from custodian services in the US, EMEA and APAC regions.

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