MetaMask, a cryptocurrency wallet, has integrated with Cactus Custody, a DeFi platform for multi-chain institutional custody. The integration will provide the MetaMask wallet with new built-in DeFi functionality.
Cactus Custody’s feature will now provide institutional customers with multi-chain connectivity to all Ethereum Virtual Machine (EVM) chains, sidechains, and Layer 2s supported by MetaMask, including Ethereum, Binance Smart Chain, Avalanche, Celo, and Polygon. The full integration with MMI was announced on Jan. 26. Cactus Custody’s feature will now provide institutional customers with multi-chain connectivity to all Ethereum Virtual Machine (EVM) chains, including sidechains.
Additional security and compliance features provided by the DeFi Connector feature include audit trails for MMI transactions, private key protection, and “role-based approval” processes for interactions with DeFi platforms.
MMI was launched in December 2020, and it differs from Metamask in that it has additional security, compliance, and custodial capabilities that are critical for the expanding number of institutions using DeFi. The goal of the solution is to provide institutional investors with access to the whole DeFi ecosystem from their MMI wallets.
Since August 2021, MetaMask’s monthly active users have more than doubled, with more than 21 million at the time of writing, according to the company’s website.
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