Matrixport Brings Institutional Crypto Custody to MetaMask Wallet

Matrixport and MetaMask are hoping to onboard the next wave of DeFi institutional investors with a new custodial feature built on multi-chain technology


Source: Shutterstock


key takeaways

  • Matrixport is leaning into institutional products with the launch of the “DeFi Connector” feature
  • Cactus Custody, Matrixport’s institutional custodian service, is integrating with MetaMask Institutional

The institutional arm of decentralized finance wallet MetaMask now has its first built-in custodial solution that supports multi-chain compatibility.

Crypto financial services company Matrixport’s institutional custodian, Cactus Custody, supports a slew of Ethereum-based chains via its “Decentralized Finance Connector.” 

Clients of MetaMask Institutional (MMI) can now access the same multi-chain connectivity across all Ethereum Virtual Machine (EVM) chains that MetaMask provides retail traders. Compatible chains include Ethereum, Binance Smart Chain, Polygon and Avalanche. 

The offering delivers “the highest level of security and usability” to institutional investors “seeking to tap into the vast opportunities within DeFi,” according to Cynthia Wu, head of sales and business development at Matrixport.

“We are fully committed towards enabling multi-chain capabilities that provide even broader access to DeFi, whilst adhering to world-class standards of security and compliance,” Wu said in a statement. 

MMI, MetaMask’s institutional-grade service, offers additional security and compliance services institutional clients require, MetaMask said

“EVM chain support is one of the most important institutional needs,” said Johann Bornman, product lead for MMI, in a statement. “With our latest custodial account multichain feature, Cactus Custody not only supports multiple EVM chains, but also allows institutions to freely bridge digital assets across these networks.”

According to DeFi research platform VALK, 43% of institutional investors engaging with DeFi currently use a custodian service. Institutional infrastructure for DeFi is lagging, researchers said. 

“Investors questioned in the UK, US, France, Germany, Hong Kong, Singapore, Australia, and Brazil would welcome the launch of an institutional aggregator for DeFi as long as it met regulatory and security requirements,” VALK said. “Around a fifth (22%) would be very likely to use it while 72% say they would be quite likely to use it.” 

Due to varying regulatory requirements, Matrixport is currently unavailable in over 40 countries, including the United States and Canada. 

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