ConsenSys-owned institution-compliant extension, MetaMask Institutional (MMI), has announced forming strategic partnerships with self-custody solutions Gnosis Safe and GK8, as well as custodians – Hex Trust and Parfin. The end goal is to expand the organizational reach and streamline the DAO experience.
With the latest integration, MetaMask is now embracing the requirements of DAOs looking for crucial management solutions to engage in decentralized finance activities.
Partnerships and Integrations
As per the press release shared with CryptoPotato, MetaMask Institutional, which boasts 30 million monthly active users, aims to provide organizations access to DeFi and Web3 while meeting rigorous institutional requirements.
Last year, the platform announced integration with BitGo, Qredo, and Cactus Custody™ to bring DeFi to major companies in the US, EMEA, and APAC regions. MMI said the latest partnerships with five entities “compliments” the previous integrations from both a solution and geographic perspective.
The release also stated that MetaMask Institutional will continue to address varied requirements of organizations and DAOs with the aim to bridge every organization in the world into Web3. Currently, MMI has seven custodians under its belt that provides the needs of organizations and DAOs in various jurisdictions with important management requirements.
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Johann Bornman, Global Product Lead for MetaMask Institutional, commented,
“We are delighted to work with these fantastic partners each with their own unique strengths to help achieve our vision.
These diverse integrations allow more crypto funds, market makers, trading desks, and traditional organizations to gain access to DeFi and Web3 via MMI. Importantly, working with Gnosis Safe also deeply resonates with our decentralized values, allowing MMI to better cater to crypto-native DAOs.”
MetaMask’s Growth
As reported earlier, MetaMask witnessed tremendous growth, recently exceeding more than 30 million monthly active users. It was up by over 40% since November, when ConsenSys was only half its current valuation. The team behind the popular Ethereum wallet also revealed working towards the launch of a DAO for funding the app’s growth.
More recently, MetaMask announced rolling out Apple Pay integration that includes enabling the purchase of cryptocurrency using a debit or credit card via the mobile application. This feature essentially aimed to eliminate the need to transfer Ethereum (ETH) from a centralized exchange into the application allowing users to use their Visas and Mastercards.
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