MetaMask Institutional joins forces with Fireblocks

As part of this collaboration, Web3 wallet MetaMask will integrate with the multi-party computation (MPC) platform of Fireblocks. The move will enable Fireblocks users to access the wallet’s portfolio dashboard. The integration will launch officially on 12 June 2023, and it will be part of a MetaMask Institutional product aimed at institutional investors. 

Included in MetaMask Institutional’s offerings is the ability to stake and lend crypto. While the company does not offer custody services for institutions, it gives them the option to choose between multiple custody technology providers. Fireblocks is the latest provider to join this list, which also includes Parfin, Hex Trust, BitGo and Gnosis Safe. 

With this integration, organisations will gain the ability to trade, invest, lend, borrow, provide liquidity, and bridge assets across EVM chains with MMI. They will be able to perform these operations while benefiting from the security of Fireblocks’ MPC wallet infrastructure and Policy Engine for transaction governance and signing. 

MetaMask Institutional will also provide Fireblocks users with features such as an advanced dashboard that can be used to manage their Web3 portfolio, monitor digital assets and protocol allocation breakdowns, as well as in-depth transaction reporting. Users will also benefit from native token swaps and ETH staking directly from the MetaMask Institutional extension or dashboard, and they will gain access to team management settings with automated onboarding, and organization-wide portfolio views. 

MetaMask Institutional representatives cited by businesswire.com revealed that the integration comes in the context of an increased demand from institutions to get into the Web3 market. They also talked about the company’s ambitions and goals to bridge every organization into Web3.

Other important developments and partnerships from Fireblocks

Fireblocks has recently launched a compliance solutions suite to simplify how customers meet digital asset regulatory requirements and integrated with Notabene for Travel Rule compliance. The Fireblocks Compliance Solutions Suite was revealed in May 2023, and it allows  Fireblocks customers to integrate transaction monitoring, wallet screening, and Travel Rule compliance within their existing transaction and compliance workflows and approvals. 

In January 2023, Fireblocks joined up with cryptocurrency startup Solvo Finance to improve the security of its upcoming crypto investing app. As per the official press release, Solvo believes that potential crypto investors are often deterred by a lack of transparency and trust, a problem that it aims to solve by leveraging Fireblocks’ products. In 2022, tmtanalysis.com conducted a survey that found that only 9% of respondents believe that crypto services on offer are safe and secure.