ConsenSys unveiled the new product of MetaMask Institutionnal: a staking marketplace dedicated to institutional investors. In addition, this platform will offer advanced features for browsing the different parts of the Web3 ecosystem.
MetaMask launches its staking marketplace for institutional investors
MetaMask Institutional, the branch of the famous wallet dedicated to institutional investors, unveiled a new staking marketplace :
—MetaMask Institutional (@MMInstitutional) March 22, 2023
This platform, powered by ConsenSys, the company behind the famous cryptocurrency wallet, is the result of a partnership with Allnodes, Blockdaemon and Kiln. The objective is to facilitate staking for institutional clientsallowing them to easily choose their service providers according to the parameters of their choice: type of hosting infrastructure, certifications, total value locked (TVL), etc.
According to ConsenSys, the Shapella update that will take place on April 12, allowing the release of ETH locked in the Beacon Chain smart contract, could favor the interest of institutional investors for staking. In any case, this is the opinion of Johann Bornman, product manager of MetaMask Institutional:
“With the impending withdrawals, we believe the institutional demand to secure the global computer [ndlr : Ethereum] will increase. We are delighted to work with these staking partners […]. We believe that MetaMask Institutional can play a unique role in providing unparalleled and transparent staking access to all organizations. »
To date, nearly 17.79 million ETH is locked in staking, this represents a value of over $32 billion, i.e. 14.71% of the market capitalization of the assets.
👉 To go further — Find our guide to staking on Ethereum
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An all-in-one Web3 wallet
Initially, the MetaMask Institutional solution integrates eleven staking service providers. Beyond its role as a staking marketplace, this new platform integrates many “advanced features” such as dashboards for portfolio management and monitoring of crypto-assets.
It is therefore a true institutional-grade Web3 wallet, as it will also be possible to switch from one blockchain compatible with the Ethereum Virtual Machine (EVM) to another. In addition, price tracking of non-fungible token (NFT) collections will be enabled, as well as the creation of accounts for each team member.
This solution will be available from March 27 and could effectively facilitate the entry of new institutional players into the cryptocurrency ecosystem.
👉 Also in the news — Why have fees on Ethereum (ETH) increased 4x since October?
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