MetaMask Institutional Added Multichain Connectivity

by in DeFi News

MetaMask Institutional DeFi

Leading software crypto wallet Matamask developed by ConsenSys added a new feature named "DeFi Connector," which allows enterprises to access DeFi products built upon different blockchain protocols. For this purpose, MetaMask Institutional (MMI) integrated solutions of Cactus Custody, a service delivered by digital assets network Matrixport.

Related: Monthly active users of the MetaMask wallet has exceeded 1M

Matrixport co-founder, Cysnthia Wu said that the company aims to enable wider secure access to DeFi. Through MMI, small and large establishments are able to swap, borrow, lend, and invest in tokens, interacting with DeFi platforms and apps via the MetaMask interface.

With the addition, MMI started to enable cross-chain functions with EVM-compatible protocols, including Ethereum, BSC, Polygon, Fantom, Huobi Eco Chain, and others.

Product Lead at ConsenSys, Johann Bornman, said that EVM support is among the most essential needs for small and large organizations to enter crypto.

He added that Cactus Custody not only supports various EVM chains but lets customers bridge assets across various platforms. ConsenSys launched MMI in April 2021. The wallet offers enterprise-grade security, advanced compliance mechanisms, and custodial options. Customers can deploy capital to DeFi easily, managing key storage and multi-signature confirmations.