What is MetaMask Institutional? Wallet as a Service (WaaS) provider sees increasing compliance value
What is MetaMask Institutional MMI, a provider of institutional-grade wallet solutions? As the future wallet and WaaS (Wallet as a Service) market matures, compliance becomes increasingly important and will be a core competitive advantage in this field.
Table of Contents
Introduction to MetaMask Institutional
MetaMask Institutional is a service launched by Consensys Codefi in 2021 for institutions, providing customized crypto wallets and fund management services tailored for enterprises to access the Web3 industry.
The customized features include permission management for wallet accounts, multi-signature, multi-token operations, specific format report forms, real-time asset monitoring, asset value snapshots, and more to meet the specific needs of various institutions.
In addition to the above features, MetaMask Institutional also integrates with other industry service providers such as Fireblocks, MPCVault, Blockaid, Hex Trust, and other products.
Recent Updates of MetaMask Institutional
Snapshot Feature
Last week, MetaMask Institutional updated its snapshot feature, bringing:
- More customizable asset valuation table views.
- Integration of diverse assets into investment portfolio management reports, including NFTs, cross-wallet assets, and downloadable CSVs.
Snaps
In November, MetaMask Institutional also introduced the Snaps feature, allowing third-party developers to create custom functions, providing institutions with more flexible options.
The Maturing WaaS Market
In addition to MetaMask Institutional, Wallet as a Service (WaaS) providers like Coinbase Wallet Service, Trust Wallet, Circle, and even Taiwan's CryptoGO have long provided similar services, offering traditional enterprise wallet OEM services. This indicates that industry players have long seen the demand from traditional institutions for crypto wallets and asset management, and the services provided are becoming more mature.
Aside from providing technology and ecosystem, compliance has become an important value proposition in this field in recent years. This is why most WaaS providers such as Consensys, Coinbase, Circle, etc., position themselves as compliance-focused companies, giving them an extended advantage over other competitors.
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