Metamask adds support for Bitgo, Qredo and Cactus

cryptocurrency service providers are working on opportunities to win more institutional investors for the market

Metask, one of the leading cryptocurrency wallets in the world, urges stronger institutional acceptance. The Consensys-owned wallet introduced institutional services in December last year and is now working hard to win more institutional investors for its platform.

The institutional arm of the Metamask Wallet announced yesterday that he supported the Depotbanks Bitgo, Qredo and Cactus Custody. This latest development is intended to help companies meet compliance requirements and to facilitate access to decentralized financial token (Defi) and other cryptocurrencies.

in a blog post by Consensys yesterday the team said that the partnership with these custody banks is an important milestone that enables institutions to use the best deposit solutions to easily discover and interact with it with it.

“ Each of these strategic partnerships reacts to different needs of organizations, small crypto startups and DAOs to crypto funds worth several billion dollars ”, added the blog post. Consensys believes that the custody plays an important role in giving institutes access to Defi and cryptocurrencies. It is important for companies because it enables you to secure and keep cryptocurrency assets safely.

The managing director of Bitgo, Joe Bruzzesi, announced that the partnership for the integration of Metamask would lead institutionally into Bitgo wallets. This latest development is of crucial importance, since it indicates the growing appetite of institutional investors to get into the Defi area without having to worry about security.

The cryptocurrency market has experienced massive growth in recent years, with numerous financial institutions entering the area. The Defi market in particular has become attractive for both private and institutional investors.

Johann Bornman, Product Lead for Metamask Institutional (MMI), explained that their focus is to offer unique access to defi despite the numerous institutional requirements. Your partnership with the three custodian banks will play a key role in making MMI institutions safe access to the defi room.