MetaMask to Activate Custodial Options

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Last Update: September 21, 2022

2 mins read

MetaMask has been working to incorporate custodial options into the platform which could allow newer and larger investors to utilize decentralized finance. MetaMask Institutions has been working with Cactus Custody to incorporate new features and security options for larger clients. The original partnership was made back in October 2021 and MetaMask announced full integration on January 26th. 

The incorporation will connect institutional clients with a full range of decentralized applications as well as multiple blockchains. So far, all Ethereum chains, sub-chains and Layer 2 options will be available for use. Aside from Ethereum chains, MetaMask Institutions will connect with other blockchains including Binance Smart Chain, Celo, Avalanche, and Polygon. It's promotional videos state there are over 17,000 decentralized applications that can be connected through the new Metamask Institutions integration.

Aside from decentralized applications, there are a host of features that have been demanded by institutional investors. These features include custodial options, compliance features and additional security. All transactions done through MetaMask Institutions will include an audit trail and feature a unique approval system for transactions based on the role of the user.

MetaMask Institutions is a different wallet from the traditional MetaMask. The wallet was separated to ensure the compliance, security and custody features would be used for every transaction made. The company stated the wallet was created to meet the demands of a growing number of new larger decentralized finance users. 

Decentralized finance has been a booming sector of the cryptocurrency industry that can revolutionize traditional finance. Many larger traditional companies have wanted to participate in DeFi but have lacked the custodial options to do so. MetaMask Institutions could bring about great adoption and allow businesses to include blockchain technology into their products and services.

MetaMask was developed by the largest Ethereum development company, Consensus Labs. The success of the application can be seen in the number of users installing the extension. The amount of MetaMask users has continued to grow, doubling in less than six months. There are currently over 20 million MetaMask users and with institutional adoption, we can expect that figure to increase.

If you want to stay safe using your crypto funds, CGN recommends sticking to trusted and established casinos such as 1xBit, Bitcasino, and FortuneJack.

Looking for your next crypto casino? Check out: Mega Dice or FortuneJack

Written by Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.
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