Ethereum wallet MetaMask is seeking to attract institutional investors into the decentralized finance sector with the soon-to-be-launched institutional-grade version.
The popular wallet, with more than 1 million monthly active users, introduced token swaps in October this year, and is now looking to expand even further. Developers ConsenSys identified that DeFi protocols are currently too inefficient for professional trading firms, and there is no “robust reporting for accounting, tax, and P&L purposes.”
As per the announcement, the upgraded version is aimed at “trading firms and crypto custodians” and will provide them with “institutional-grade features,” including the ability to “swaps tokens, borrow, lend, and invest in Ethereum applications.” It will also provide users with “operational, security, and reporting features necessary to run a professional DeFi trading desk.”
Digital asset custody firm Curv will be the wallet’s first user, incorporating the new…
