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The developers of the Metamask cryptocurrency wallet confirmed the rumors about the updates and spoke in detail about the release of the new product. They stated that they have implemented the possibility for the institutional storage of cryptocurrency assets in several chains.
Head of MetaMask Institutional (MMI) product Johann Bornman said that integration with a decentralized finance (DeFi) connector from Cactus Custody was carried out. This is what will allow institutionals to enjoy all the benefits of this sector, and will also significantly increase the popularity of the Metamask wallet.
(MMI) recently partnered with Cactus Custody, which is owned by major crypto financial services platform Matrixport. Since then, development teams have worked together to create new functionality. Upon completion of the work, institutionals received the ability to multi-chain connection to the Ethereum Virtual Machine (EVM), Binance Smart Chain, Avalanche, Celo and Polygon. This allows institutions to seamlessly aggregate and store their digital assets on independent blockchains.
According to the entrepreneur Bornman, such an innovation will open up unique opportunities for institutional investors. MetaMask Institutional provides the proper level of security, and also allows you to see all transaction reporting, provides private keys and a huge range of tools for working with DeFi platforms.
Earlier, the Crypto.ru editors reported that the ConsenSys studio received a business valuation of $3 billion. This company is the developer of the Metamask wallet. The firm’s profits have grown significantly in 2021, driven by the growing popularity of the DeFi sector.
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