MetaMask Is Making An Enterprise Version Of Its Services

MetaMask is looking to improve the multi-billion dollar DeFi environment with a new version of its wallet, aimed at crypto exchanges, financial institutions, and hedge fund management companies.

The Ethereum wallet MetaMask is one of the most popular wallets around, with over 1 million monthly users. Following the launch of token swaps earlier this autumn, the company is now trying to advance the advent of Decentralized Finance (DeFi) by compensating for the current industry protocols – which some feel leave much to be desired.

Developers Consensys Looking To Expand The Scope Of The Wallet

Consensys – the dev team behind Metamask – feel that although DeFi may be all well and good for independent crypto traders and investors, the current protocols are too inefficient for heavy-hitting professional trading firms.

They also identified room for improvement in the figures department, citing a lack of efficient reporting capabilities when it comes to taxes and returns – as well as profit and loss statements.

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The team at MetaMask has already found their first partner for the institutional decentralized finance protocol.

Curv, a leading digital asset security firm, will set up its DeFi customers with everything needed for a professional DeFi trading platform.

Although Curv may not sound familiar, their clients’ names may ring a bell – clients such as eToro, purveyors of stocks, bonds, and moderately humorous YouTube ads.

Itay Malinger – the CEO and co-founder of Curv – stated his belief in a need for DeFi solutions geared at financial institutions.

“Since there is no reliable and secure institutional solution for DeFi, organizations are reverting to retail-level use of MetaMask or custom integrations with individual apps as a workaround.”

As senator Andrew Bragg reminded panelists at the Future Of Financial Services 2020 Conference, staying competitive in the financial domain is a key objective for the Australian government – and the announcement of an industrial-grade DeFi service may prove very useful to Aussie investment firms.

Cristian Lipciuc
Author

Cristian Lipciuc

Cristian Lipciuc is a blockchain journalist working with startup companies across multiple domains such as freelancing, app development & cryptocurrency. Cristian specializes in applied blockchain technologies, cryptocurrency integration, the adoption of new technologies by governments, and cybersecurity.

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