MetaMask Institutional (MMI), a renowned web3 wallet for organizations, and Fireblocks, a platform specializing in secure DeFi access and crypto operations, have announced a partnership aimed at providing institutional investors and blockchain developers with a comprehensive solution for secure access to decentralized finance (DeFi) and web3 applications.
📣We’re thrilled to announce our partnership with @FireblocksHQ.
Our integration will provide the most complete enterprise-grade wallet security and portfolio management solution for institutional investors and builders🚀https://t.co/I5rIQ0xXiO pic.twitter.com/UghokJT4QZ
— MetaMask Institutional (@MMInstitutional) June 8, 2023
Metamask Institutional and Fireblocks join forces to boost institutional Web3 adoption
The partnership benefits the over 1,800 organizations currently utilizing Fireblocks, as they gain access to MMI’s extensive portfolio management solutions and seamless connectivity to more than 17,000 DeFi and Web3 applications.
By linking their Fireblocks accounts to MMI, users can engage in a wide range of activities, including investing, trading, lending, borrowing, liquidity provision, and asset bridging across various Ethereum Virtual Machine (EVM) chains. The team behind the collaboration emphasizes that the security of Fireblocks’ MPC wallet infrastructure and Policy Engine for transaction governance and signing provides an added layer of safety for these operations.
MetaMask Institutional reciprocates the collaboration by offering Fireblocks’ users a host of features to enhance their web3 portfolio management experience. These features include digital asset monitoring, protocol allocation breakdowns, and in-depth transaction reporting, all conveniently accessible through a single dashboard.
Furthermore, the integration between MetaMask Institutional and Fireblocks also introduces team management settings with automated onboarding and organization-wide portfolio views. This integration enables users to assess performance and profit/loss (P&L) attribution metrics for ERC-20 tokens and major DeFi protocols, providing valuable insights for informed decision-making.
Extensive Solutions for Institutional Investors
This comes at a time when the crypto industry is experiencing rapid development and increasing institutional interest. A recent study conducted by EY-Parthenon revealed that nearly 60% of institutional investors are actively exploring entry into the crypto space, recognizing the long-term benefits of digital assets.
As institutional interest in the crypto market continues to surge, the demand for secure and efficient digital asset management solutions becomes increasingly critical. Therefore, partnerships like this play a pivotal role in facilitating institutional participation and driving the adoption of decentralized technologies as the crypto industry continues to evolve and mature.
As more organizations recognize the potential and long-term benefits of digital assets, the demand for secure and efficient management solutions will continue to grow. By merging wallet security, portfolio management, and connectivity to thousands of decentralized applications, this partnership paves the way for increased institutional participation and the adoption of Web3 and Defi, ultimately driving the growth of the crypto industry.
