MetaMask Becomes More Institution-Friendly With New Custodians

MetaMask Institutional (MMI) is amping up its institutional game by onboarding four more institutions: Cobo, Floating Point Group, Liminal and Propine.

The move comes as the number of institutions embracing web3 and DeFi investments grows. In a press release, MetaMask said the move will “enhance choice, security, and operational efficiency for crypto funds, DAOS and other organizations.”

With the four new additions, MMI will have a total number of eleven custodians, which will further bolster MMI’s “position as the premier institutional wallet for Web3 and the only one to integrate with multiple trusted institutional custodians”, said Liz Mathew, Global Head of Growth and Partnerships for MetaMask Institutional.

MMI had previously announced the addition of Gnosis Safe, Hex Trust, GK8, BitGo, Qredo, Cactus and Parfi.

Over 1,800 organizations have access to the MMI wallet, allowing them to access DeFi trading on Ethereum. A growing number of organisations also use MMI to access non-DeFi related Web3 utilities such as NFT marketplaces and the social engagement of Web3 communities.

Launched in 2021, the MMI platform standardises the operational framework for organisations to manage their Web3 portfolios. MetaMask itself has 30 Million Monthly Active Users across the globe.