ConsenSys unveiled MetaMask Institutional’s new product: a staking marketplace dedicated to institutional investors. The platform will also offer advanced features to navigate the various parts of the Web3 ecosystem
MetaMask launches its staking marketplace for institutional investors
MetaMask Institutional, the branch of the famous wallet dedicated to institutional investors, has unveiled a new staking marketplace:
Exciting news in the world of staking! Today, ConsenSys has launched the first institutional staking marketplace on @MMInstitutional, in partnership with @Allnodes, @BlockdaemonHQ, and @Kiln_finance
https://t.co/grlm9XiLCz pic.twitter.com/7YV2mQ4qws
– MetaMask Institutional (@MMInstitutional) March 22, 2023
This platform, powered by ConsenSys, the company behind the popular cryptocurrency wallet, is the result of a partnership with Allnodes, Blockdaemon and Kiln. The goal is to make staking easier for institutional clients, allowing them to easily choose their service providers based on the parameters of their choice: type of hosting infrastructure, certifications, total locked value (TVL), etc.
According to ConsenSys, the Shapella update that will take place on April 12, allowing the release of ETH locked in the Beacon Chain smart contract, could encourage institutional investors’ interest in staking. This is the opinion of Johann Bornman, head of product at MetaMask Institutional:
“With withdrawals imminent, we believe that institutional demand for securing the global computer [ed. note: Ethereum] will increase. We are excited to work with these staking partners […]. We believe MetaMask Institutional can play a unique role in providing unparalleled and transparent staking access to all organizations. “
To date, nearly 17.79 million ETH are locked in staking, this represents a value of over $32 billion, or 14.71% of the market capitalization of the asset.
An all-in-one Web3 portfolio
First, MetaMask Institutional’s solution integrates eleven staking service providers. Beyond its role as a staking marketplace, this new platform integrates many “advanced features” such as dashboards for portfolio management and crypto asset tracking.
It is thus a true institutional-grade Web3 wallet, as it will also be possible to switch from one Ethereum Virtual Machine (EVM)-enabled blockchain to another. In addition, price tracking of non-fungible token collections (NFT) will be enabled, as well as the creation of accounts for each team member.
This solution will be available from March 27 and could indeed facilitate the arrival of new institutional players in the cryptocurrency ecosystem.
