Qredo Opens DeFi to Institutions with New MetaMask Institutional Partnership
October 05, 2021 - Decentralised digital asset infrastructure and technology provider Qredo announces its partnership with MetaMask Institutional (MMI), a version of the wallet that integrates institutional-compliant custody, operational, risk, and compliance features, providing organisations access to DeFi.
The partnership builds on Qredo’s recent string of successful integrations and will allow organisations using MetaMask Institutional to utilise Qredo's advanced custodial infrastructure. Together, Qredo and MMI give institutional crypto investors of all stripes — from small crypto funds, corporate treasurers and multi-billion dollar hedge funds — the ability to deploy digital assets across the DeFi ecosystem from secure decentralised custody.
With 10 million Monthly Active Users, MetaMask is the go-to DeFi wallet, and organisations using MetaMask Institutional will now get access to Qredo's decentralised multi-party computation (MPC) custody tech stack. This global offering will benefit investors with heightened institutional-grade requirements in three distinct ways:
Operational efficiency Cumbersome DeFi trade-flow processes, such as transfering funds from cold to hot wallets with gas fees and multiple transactions and sign-offs, are replaced with streamlined trade flow management enabled by Qredo's unique implementation of multi-party computation (MPC).
Unrivalled access to DeFi Combined with Qredo's cross chain connectivity, MMI will enable institutions to keep pace with decentralized innovation across multiple chains, and gain instant low-cost access to a growing ecosystem of trading, yield earning, and liquidity opportunities from a single dashboard.
Governance and compliance With scalable transaction signing, audit-ready reporting, and direct integration with licensed custodians on Qredo Network, institutions can fine tune governance to match existing team structures and asset management workflows.
"Compressed yields are driving more institutions to DeFi, but it still remains painful for these big players to allocate capital to the ecosystem," said Anthony Foy, Qredo CEO. "Metamask Institutional and Qredo offer a complete stack for simplifying institutional capital allocation: MMI forms the institutional-grade gateway, and Qredo's decentralized custody infrastructure makes it possible to secure assets with self-custody, implement scalable organizational governance, and meet compliance and reporting needs."
MetaMask Institutional (MMI) was created in December 2020 by ConsenSys to address large numbers of leading crypto funds, market-makers, and trading desks seeking to increase exposure to DeFi. These organizations struggle to do so because operating at such a scale often necessitates heightened security, operational, and compliance requirements.
The integration with Qredo comes as MMI also announces integrations with regulated custodians BitGo and Cactus Custody™.
“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”.
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