Published Oct 5, 2021
By Qredo Team
Qredo Opens DeFi to Institutions with New MMI Partnership
Qredo selected by world’s leading decentralized finance (DeFi) wallet MetaMask Institutional to provide secure, compliant access to DeFi
London, 5th October 2021 — Decentralized 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 organizations access to DeFi.
The partnership builds on Qredo’s recent string of successful integrations and will allow organizations using MetaMask Institutional to utilize 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 decentralized custody.
With 10 million Monthly Active Users, MetaMask is the go-to DeFi wallet, and organizations using MetaMask Institutional will now get access to Qredo's decentralized multi-party computation (MPC) custody tech stack. This global offering will benefit investors with heightened institutional-grade requirements in three distinct ways:
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”.Become and Early Adopter
ConsenSys is the leading Ethereum software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, Truffle and Diligence, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open source foundation, we are building the digital economy of tomorrow. To explore our products and solutions, visit http://consensys.net/.
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Qredo is a decentralized digital asset management infrastructure and product suite designed to unlock new opportunities for institutional investors in digital assets and decentralized finance. Qredo's Layer 2 blockchain protocol enables users to seamlessly transfer and settle BTC, ETH, and ERC-20 tokens. Assets are secured by Qredo’s advanced Gen 2.0 multi-party computation (MPC), which provides tier-1 bank security and institutional-grade governance. Follow Qredo on LinkedIn and Twitter.
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