The first quarter of 2023 has been intense for the world of institutional crypto. The sector has undoubtedly faced some serious challenges, but despite the closures of Silicon Valley Bank and other major entities, crypto has continued to thrive.
Today we focus on the remarkable achievements of MetaMask Institutional (MMI), and how our partnership with MMI is transforming the way institutional investors engage with digital assets across DeFi and Web3.
As MMI mention in their recent Q1 2023 Review, their MMI browser extension boasts a fantastic user retention rate of 65% over 8 weeks of use. This is a testament to MMI's robust and purposeful performance in serving the needs of institutional users and gives us yet another reason for being proud of Qredo's partnership with MetaMask Institutional announced back in October 2021.
MetaMask Institutional has been making great progress in providing ever more secure and smooth access to digital assets, DeFi, and Web3 for institutional investors. Over the past quarter, they've achieved some remarkable things. Let's have a quick recap.
MMI has been engaged in a scale-up in order to cater for the numerous organizations that need frictionless, enterprise-grade access to DeFi. MMI's APIs have become faster, more robust, and offer higher uptimes, allowing organizations to access Web3 assets more securely and efficiently than ever.
MMI has built DeFi adapters, a transaction simulator, and launched token and DeFi attribution, providing institutional investors with greater insights into their Web3 assets, all as part of their enhanced and impressive portfolio dashboard.
MMI has onboarded new organizations in Q1, increased assets under deployment by 89.17%, and seen a 25.87% increase in projected annual revenue.
This is an impressive indication of their growth and success, and they are clearly extremely well positioned to continue in that trajectory while serving the interests of institutional investors in the space.
As a partner of MetaMask Institutional, we are incredibly excited about the new opportunities created by the rapid growth and innovation taking place in the digital asset space.
Our collaboration with MMI allows institutional investors to deploy digital assets across DeFi and Web3 from secure self-custody. By providing seamless access to the frontier of Web3, we are empowering investors to explore new opportunities and unlock the full potential of their digital assets.
MetaMask Institutional is a fantastic partner since they continually build on their ongoing commitment to robust, secure, and frictionless access to DeFi.
At Qredo, we feel exactly the same way, and we never stop building to provide our users with the best possible security for their digital assets.
You can expect even more significant advancements in the quarter ahead, both from MMI and from us at Qredo.
MetaMask Institutional's Q1 2023 achievements have solidified its position as a key player in its provision of DeFi and Web3 services for institutional investors.
By providing secure, seamless, and efficient access to digital assets in DeFi and Web3, MMI continues to revolutionize the way institutions are able to engage with the rapidly developing world of blockchain technology.
Qredo's ongoing partnership with MetaMask Institutional is a key part of enabling our users to make the absolute most of their digital assets, safely.
Thanks to this partnership, it has never been easier for investors to take secure self-custody of their digital assets and deploy them instantly across the world of DeFi and Web3.
Stay tuned for more exciting developments from MetaMask Institutional and from Qredo as we continue to build and secure the future of digital assets.