MetaMask Institutional to integrate with Fireblocks MPC platform
Web3 wallet MetaMask will integrate with Fireblocks’ multi-party computation (MPC) platform, allowing Fireblocks users to access the wallet’s portfolio dashboard, according to a June 6 announcement. The integration will be part of the MetaMask Institutional product aimed at institutional investors. It will go live on June 12.
MetaMask Institutional is wallet software that offers institutions a variety of features, including the ability to stake and lend crypto. It does not custody funds for institutions. Instead, it allows institutions to choose between multiple custody technology providers. Fireblocks is the latest provider to join the list, which includes BitGo, Gnosis Safe, Parfin, Hex Trust and others.
Fireblocks uses multi-party computation, a process that splits the user’s private key into shards and distributes the shards across a decentralized network. This can help to prevent any one node from having access to the full key, potentially making the wallet more secure. The company claims that over 1,800 institutions use its service to secure their crypto.
Related: New tech could make crypto and Web3 wallets more convenient
The new integration will give Fireblocks users access to MetaMask Institutional’s portfolio management capabilities and all-in-one dashboard, letting them do native token swaps and Ether (ETH) staking directly from the dashboard. The dashboard also enables users to view performance and profit and loss data for particular tokens and decentralized finance protocols.
According to Johann Bornman, global product lead for MetaMask Institutional, the integration was made partially in response to growing demand from institutions to get into the Web3 market:
Fireblocks was one of the earliest MPC wallet
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