Matrixport recently announced that it will now be offering institutional custodian service through its partnership with Cactus Custody. They will be supporting ConsenSys’ MetaMask Institutional (MMI), which is a Metamask version that can be integrated with institution-compliant operational, risk, compliance, and custody features. Through this partnership, both organizations and investors with heightened institutional-grade requirements will be able to take advantage of the opportunities offered by Decentralized Finance (DeFi) in a secure and compliant manner.
Through the partnership, the DeFi Connector feature of Cactus Custody is integrated with MMI creating an audit trail. This helps in complying with the regulatory compliance requirements like market-makers, trading desks, and crypto funds need to abide by. Through the DeFi Connector, a secure and encrypted wallet address will be generated. A hardware security module will store this address allowing all interactions and wallet transactions to be recorded as well as downloaded by the investors.
As per Matrixport’s head of sales and business development, Cynthia Wi, the total value locked of the DeFi ecosystem is over $80 billion which has increased by 16 times in two years. Institutional investors are recognizing the multitude of opportunities offered by DeFi. Through the partnership with MMI, they will be able to focus on creating institutional-grade tools that help the investors access these opportunities.
Matrixport’s third-party institutional custody service, Cactus Custody, has more than $10 billion assets for funds, projects, corporations, and miners under custody. It has a system security design following the best practice of the industry, increasing security, efficiency, and transparency while empowering the growth of its client.