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The popularity of decentralized finance played an integral role in the launch of MetaMask Institutional as companies looked to safely enter the space.
MetaMask is arguably one of the most well-known self-custodial Ethereum software wallets in the cryptocurrency ecosystem, with its signature Orange Fox avatar plug-in acting as a portal to the world of Ether (ETH)-based tokens, decentralized applications (DApps) and decentralized finance (DeFi).
The retail browser plug-in wallet surpassed 30 million users worldwide in 2022 and has slowly turned its attention to serving a growing number of institutional users that have looked to gain exposure and manage assets in the growing DeFi space.
Cointelegraph caught up with Elizabeth Mathew, head of growth and partnerships at MetaMask Institutional (MMI), at the firm’s stand during Token2049 in Singapore. The backdrop of a Blue Fox was a noticeable change, with the color scheme in contrast to the familiar orange of the MetaMask logo that most users are accustomed to.
MetaMask Institutional (MMI) has been in existence since October 2021 at a time when institutions began allocating significant amounts of capital to DeFi marketplaces through the conventional MetaMask retail wallet.
The service was born out of the need to serve specific requests from institutional users. Custodial access was a primary consideration in order to give a wider range of operational controls over a wallet. This included suitable segmentations of roles and responsibilities for a wallet belonging to an entity.
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The second consideration was compliant access to DeFi, which, by na
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