MetaMask adopts custodial features for NFT-hungry institutional investors
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MetaMask adopts custodial features for NFT-hungry institutional investors
The MetaMask Institutional wallet added Cobo NFT management to its growing list of custodial services for institutional investors.
Institutional investment is pouring into the crypto world, notably the nonfungible token (NFT) scene. In a reaction to the influx, MetaMask Institutional announced another addition to its custodial services offerings for institutional-level clients.
MetaMask’s partnership with NFT management and storage service Cobo aims to create a “one-stop platform” for large corporations dealing with digital assets.
Although MetaMask is a non-custodial wallet at its average user level, the institutional branch of the wallet has been adopting custodial partnerships in various countries around the world.
While wallets like MetaMask have been deemed not as “user friendly” in the past, this addition to custodial offerings prioritizes usability for big investors.
The new integration allows institutional clients to designate roles the company alongside internal collaboration tools. According to Wong, this enables user limits on buying, trading and selling as permitted by the administrator.