Curv, a specialist in digital asset security, has launched Curv DeFi, an enterprise-grade decentralised finance (DeFi) solution for institutions. Curv DeFi builds on Curv’s successful integration with the Compound protocol earlier this year and this new partnership with ConsenSys.
Through this endeavour, Curv will leverage MetaMask’s market leading DApp interoperability and user interface (UI) to provide clients with a unique offering that combines ease-of-use with the enterprise-controls and enforcement mechanisms institutions require to build out their DeFi strategies. MetaMask is a wholly owned subsidiary of ConsenSys.
DeFi generally refers to digital assets and financial smart contracts, protocols and DApps. DeFi aims to create a financial system that is open to everyone and minimises one’s need to trust and rely on central authorities. At the beginning of 2020 there was approximately USD5 billion in value locked in DeFi smart contracts, predominantly in retail borrowing and lending platforms. Today there is over USD14 billion in these smart contracts and this value is expected to accelerate as financial institutions enter the market.
“MetaMask is the premier non-custodial experience for interacting with DeFi applications. We are excited to partner alongside technology leaders like Curv to build institutional-grade operations and compliance that traders need in order to really start growing their participation in DeFi,” says Patrick Berarducci, Global Fintech Co-Head, ConsenSys.
The greatest impediments to institutional adoption of DeFi have been the inability to seamlessly adopt DApps, support all the various DeFi protocols and provide the required levels of security. Curv DeFi solves for these challenges and enables institutions to:
• Accelerate their DeFi strategy by avoiding custom integrations for all DApps and DeFi protocols
• Benefit from the same enterprise-level controls and protections they are accustomed to for their digital asset operations
• Leverage the institutional onramps needed to conduct secure transfers in support of their DeFi strategy
“We believe by combining our unique multi-party computation (MPC)-based security infrastructure with MetaMask we will be able to play a significant role in the institutional adoption of DeFi”, said Curv Co-Founder and CEO Itay Malinger. “We are excited by the launch of our institutional DeFi solution and look forward to helping MetaMask achieve the same level of success in the institutional market that they have in retail.”
Stani Kulechov, CEO of decentralised money market Aave, says: “Curv’s iteration of DeFi will allow institutional customers to interact with all smart contracts, removing both operational inefficiencies and risks. Aave is excited to explore these synergies with Curv to make it easier than ever to onboard institutions to DeFi and bring the space closer to mainstream adoption via Curv’s newest solution.”