MetaMask, a popular Web3 wallet, is set to integrate with Fireblocks’ multi-party computation (MPC) platform, allowing Fireblocks users to access MetaMask’s portfolio dashboard. The integration will be part of the MetaMask Institutional product, catering to institutional investors, and is scheduled to go live on June 12.
MetaMask Institutional provides wallet software with various features for institutions, including staking and lending crypto. It does not hold funds for institutions but allows them to choose from multiple custody technology providers. Fireblocks will join the list of providers, which includes BitGo, Gnosis Safe, Parfin, Hex Trust, and others.
Fireblocks utilizes multi-party computation, a process that splits the user’s private key into shards and distributes them across a decentralized network, enhancing wallet security. The company claims that over 1,800 institutions use its service to secure their cryptocurrencies.
The integration will grant Fireblocks users access to MetaMask Institutional’s portfolio management capabilities and all-in-one dashboard. This enables users to perform native token swaps, Ether staking, and view performance and profit and loss data for specific tokens and decentralized finance protocols.
According to Johann Bornman, global product lead for MetaMask Institutional, the integration addresses the increasing demand from organizations to enter the Web3 market. MetaMask aims to provide expansive ecosystem access and bridge organizations into Web3.
Fireblocks is one of the early providers of MPC wallets, along with ZenGo. It launched the Payments Engine in October, which is utilized by payment providers Checkout.com and Worldpay. In August, Fireblocks integrated with Tokeny to implement a token minting feature.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up