MetaMask partners with BitGo to promote DeFi usage
MetaMask Institutional, the institutional division of Ethereum (ETH) -based cryptocurrency wallet MetaMask, announced on the 5th that it will partner with three major cryptocurrency custody companies to promote the use of DeFi amongst institutional investors.
The institution has partnered with US’s BitGo, UK’s Qredo, and Hong Kong’s Cactus Custody for the initiative. Amongst them, BitGo is one of the world’s leading companies that stores more than $40 billion in crypto assets. Its services are employed by more than 150 exchanges and 400 institutional investors.
Qredo and Cactus also offer institutional-specific services, offering a variety of services other than custody, such as DeFi Yield Farming, Layer 2 support, and fund management.
This time, MetaMask Institutional aims to meet compliance requirements for enterprise services by introducing technologies that perform Know Your Transaction analysis on DeFi pools.
It will also be able to provide access to DeFi for clients ranging from small crypto startups, DAOs, to even multi-billion dollar funds.
Johann Bornman, Product Lead for MMI, said in a statement:
“MetaMask Institutional’s focus is to provide unrivaled access to DeFi even in the face of rigorous institutional requirements. Qualified custodians and custody technology play a fundamental part in these requirements.”
The post MetaMask partners with BitGo to promote DeFi usage appeared first on Our Bitcoin News.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow