ConsenSys and Fireblocks have joined forces to provide institutional investors and builders with unparalleled access to decentralized finance (DeFi) and Web3. By integrating MetaMask Institutional (MMI), an enterprise-grade web3 wallet, with Fireblocks’ platform for blockchain product development and crypto operations management, they offer a comprehensive solution for wallet security, portfolio management, and connectivity to over 17,000 dApps.
The integration enables more than 1,800 organizations already using Fireblocks to tap into MMI’s extensive portfolio management tools and DeFi connectivity, facilitating investment, trading, lending, borrowing, and interaction with a wide range of dApps. This collaboration expands the range of custody solutions offered by MetaMask Institutional, providing enhanced security options for funds, web3 companies, and organizations seeking exposure to digital assets.
Fireblocks serves as a trusted platform for secure access to DeFi and trading operations, boasting enterprise-grade wallet security and transaction governance. The integration between MetaMask Institutional and Fireblocks aims to combine their respective strengths to empower institutional investors and builders in the web3 ecosystem.
The integration will be effective from June 12th, enabling users to connect their Fireblocks accounts to access a vast array of DeFi and web3 dApps, including popular platforms like Aave, Lido, and GMX. Through MMI, organizations can engage in various activities such as trading, investing, lending, borrowing, providing liquidity, and bridging assets across Ethereum Virtual Machine (EVM) chains, while benefiting from Fireblocks’ secure MPC wallet infrastructure and Policy Engine for transaction governance and signing. MMI’s portfolio management capabilities, including a comprehensive dashboard, enable monitoring and reporting on positions across dApps.
Additionally, Fireblocks users will enjoy enhanced web3 portfolio management features, including digital asset monitoring, protocol allocation breakdowns, and detailed transaction reporting, all conveniently accessible through a single dashboard. The integration also enables native token swaps and Ethereum staking directly from the MetaMask Institutional extension or dashboard. Furthermore, users can leverage team management settings for automated onboarding and organization-wide portfolio views, along with performance and profit/loss attribution metrics for ERC-20 tokens and major DeFi protocols.
This integration comes at a time when the cryptocurrency industry is experiencing significant growth, attracting increasing interest and adoption from institutional investors. According to EY-Parthenon research, nearly 60% of institutional investors are actively exploring the long-term benefits of crypto and digital assets. As institutional interest in the crypto market rises, the demand for secure and efficient digital asset management solutions grows. The collaboration between MetaMask Institutional and Fireblocks aims to address this need by providing institutional investors and builders with comprehensive access to the web3 ecosystem alongside institutional-grade security and key management provided by Fireblocks.
By integrating with Fireblocks, MetaMask Institutional expands its suite of custodians and custody technology providers, ensuring choice, security, and operational efficiency for crypto funds, web3 builders, and organizations seeking exposure to digital assets.
Johann Bornman, the Global Product Lead for MetaMask Institutional, expressed enthusiasm about the integration, highlighting the focus on providing broad ecosystem access while meeting rigorous institutional requirements. Idan Ofrat, the Chief Product Officer and Co-founder at Fireblocks, echoed the sentiment, emphasizing their commitment to enhancing portfolio management experiences for customers while maintaining high security and compliance standards.
Prior to this announcement, MetaMask Institutional had already partnered with eleven custodians worldwide to cater to organizations with unique key management requirements across different regions.
About ConsenSys: ConsenSys is a leading Ethereum and decentralized protocols software company, empowering developers, enterprises, and individuals globally to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Their product suite
About Fireblocks: Fireblocks is a cutting-edge platform designed to provide a robust framework for the secure movement, storage, and issuance of digital assets. With its enterprise-grade capabilities, Fireblocks empowers various entities such as exchanges, lending desks, custodians, banks, trading desks, and hedge funds to efficiently expand their digital asset operations while maintaining a high level of security. Leveraging the Fireblocks Network and the innovative MPC-based Wallet Infrastructure, financial institutions worldwide have been able to securely handle over $4 trillion worth of digital assets. Notably, Fireblocks offers a distinctive insurance policy that provides coverage for assets during storage and transit, offering an added layer of protection. It’s no surprise that many major trading desks have made the switch to Fireblocks, as it stands out as the preferred solution for both CISOs (Chief Information Security Officers) and Ops Teams.
