SNEAK PEEK
- Another upgrade to the custodial service options available to institutional-level clients was made by MetaMask Institutional.
- Together, Cobo and MetaMask are developing an “all-in-one platform” for massive enterprises dealing with digital assets. Cobo is a provider of NFT management and storage.
- Traditional financial behemoths like Société Générale, one of the largest investment banks in Europe, recently started offering crypto asset management services to give their clients an easy on-ramp.
Institutional interest in the nonfungible token (NFT) market is on the rise. In response to the increase, MetaMask Institutional released another update to its custodial service choices for institutional-level clients.
Cobo, a provider of NFT administration and storage, and MetaMask are working together to create an “all-in-one platform” for large organizations dealing with digital assets.
The institutional branch of MetaMask has been adopting custodial partnerships in several countries around the world, even though the bulk of its customers uses a non-custodial wallet.
According to Tavia Wong, Cobo’s head of marketing and business development, custodianship not only offers asset protection but also serves as an administrative tool for institutions in particular. According to him, institutions need extra features to prevent internal errors and the results of neglect because of the high user counts and various clearance levels.
This addition to custodial products stresses accessibility for large investors, even though wallets like MetaMask have historically been criticized for not being “user friendly.”
With the aid of internal collaboration tools, the new connection enables institutional clients to assign roles to the business. Wong claims that this provides user limits on purchasing, trading, and selling following the administrator’s approval.
However, the argument between custodial and noncustodial wallets continues to rage.
Noncustodial wallets are frequently looked to for more security and financial independence, with many in the sector espousing the tagline “not your keys; not your coins.”
Custodial wallets, on the other hand, frequently provide a more user-friendly environment as general users without technical expertise continue to enter the field. Some users even argue against the adage given above in favor of increased adoption through adoption.
"not your keys, not your crypto" is short-sighted, small-minded and impractical.
— Chris Maddern (@chrismaddern) September 27, 2022
if we don't create solutions that welcome *everyone* to crypto then it won't be *anyone's* crypto… because it'll fall irrelevantly into the annals of history.
To give its clients a simple on-ramp, traditional financial behemoths like Société Générale, one of the biggest investment banks in Europe, recently offered up crypto asset management services.
