The partnership allows investors and organisations with heightened institutional-grade requirements to tap into opportunities in the burgeoning Decentralized Finance (DeFi) space in a compliant and secure manner
Matrixport has announced that its custodian solution Cactus Custody™ is now supporting ConsenSys’ MetaMask Institutional (MMI), a version of Metamask that integrates institution-compliant custody, operational, risk, and compliance features.
Under the partnership, MMI is integrated with Cactus Custody™’s DeFi Connector feature, which creates an audit trail that ticks the box when it comes to regulatory compliance requirements that institutional investors, such as crypto funds, market-makers, and trading desks often need to abide by. The DeFi Connector will generate a secure, encrypted wallet address, stored in a hardware security module, and allow all decentralised application (DApp) interactions and wallet transactions on MMI to be recorded and downloaded by investors. This service offering will be available from next month.
Cynthia Wu, Head of Sales and Business Development, Matrixport said: “The DeFi ecosystem has surpassed US$79 billion in total value locked, from only US$20 billion at the beginning of this year. Institutional investors have started to recognise the tremendous opportunities that DeFi offers. The partnership with MMI helps us focus on providing unrivaled institutional access to these opportunities.”
MetaMask, the world’s leading decentralized finance (DeFi) wallet, serves over 10M monthly active users. In December 2020, MetaMask launched MetaMask Institutional (MMI) to address large numbers of leading crypto funds, market-makers, and trading desks seeking to increase exposure to DeFi.
The integration with Cactus Custody™ comes as MMI also announces integrations with other custodians to provide small and large organizations with access to DeFi that fulfills institution-required security, operational efficiency, and compliance needs.
“MetaMask Institutional’s focus is to provide unrivaled access to DeFi even in the face of rigorous institutional requirements,” said Johann Bornman, Product Lead for MMI. “Qualified custodians and custody technology play a fundamental part in these requirements. We could not be more delighted to partner with these three great firms all offering world class capabilities for different segments of the market.”
“Cactus Custody currently supports the Ethereum chain. With MMI integration, our clients are assured smooth access to all Ethereum-based DeFi protocols from their custody account. As the DeFi ecosystem blooms, we are working hard to strengthen the infrastructure and accessibility to the entire DeFi ecosystem, including support for other chains, such as Polygon, BSC, Solana, etc.,” added Wu.
Cactus Custody™ is the third-party institutional custody service provided by Matrixport — one of the fastest growing crypto financial services platforms in Asia — with over USD10 billion client assets for miners, funds, projects and corporations under custody. Cactus Custody™ is the third-party institutional custody service provided by Matrixport employs a system security design that follows the industry’s best practice, bringing increased security, transparency, and efficiency to the market while empowering its clients’ growth.
Matrixport is one of Asia’s fastest growing digital asset financial services platforms. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management.
Cactus Custody™ is a qualified custodian and a Hong Kong trust company that meets the capital reserve requirement and acts within regulatory and Anti-Money Laundering (AML) guidelines. We provide services to the world’s largest and most renowned mining company, mining pools, cloud mining platforms, exchanges, funds and OTC dealers, supporting our clients to grow and scale in a secure way.
Headquartered in Singapore, Matrixport serves individuals as well as over 500 institutions across Asia and Europe. The company holds a Hong Kong Trust Company License and a Swiss FINMA SRO-VQF Membership. For more information, visit www.matrixport.com.
ConsenSys is the leading Ethereum software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, Truffle and Diligence, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open source foundation, we are building the digital economy of tomorrow. To explore our products and solutions, visit http://consensys.net/.