Multi-billion dollar hedge funds are tapping into DeFi with MetaMask's institutional product
August 18, 2021, 11:50AM EDT · 1 min read
Episode 49 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Johann Bornman, product lead for MetaMask Institutional at Consensys.
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ConsenSys wants major financial groups to jump into the world of decentralized finance -- and believes MetaMask Institutional can serve as a gateway for such firms.
While most listeners are likely familiar with MetaMask, the DeFi wallet that boasts millions of monthly users, MetaMask Institutional (MMI) is a new initiative within ConsenSys focused on providing institutional access to DeFi. Already, the firm counts several large multi-billion dollar crypto-native and traditional funds among its clients, according to Johann Bornman, the initiative's product lead.
For bigger investment firms, interest in DeFi centers around exposure to higher yields from lending protocols like Aave or Compound.
“Some of them are very active in terms of their yield fund strategies and their yield farming strategies,” Bornman explained during a new episode of The Scoop podcast. “But on average, if you're talking about these larger hedge funds and pension funds that you mentioned and also some of the larger crypto funds, on average, you're seeing them sort of dip their toe into the space.”
“And this might entail minting assets or lending assets on Compound and Aave or using some of the most well-known protocols in the space."
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