Wallet Service Market Insight

Hot Wallet

  1. Metamask
    1. mobile / extension wallet
    2. more than 10 million users (the most used wallet), 30 Million Monthly Active Users
    3. linked to cold wallet (Ledger, Trezor)
    4. Mobile wallet has browser features which can access multiple dapp protocols
    5. login (biometrics), regular key phrase for recovery
    6. metamask institutional (MMI)
      1. https://metamask.io/institutions/

      2. (1)integrates institution-required custody, (2)operational efficiency, (3)risk minimized, (4)compliance features

      3. partners: Gnosis Safe, Hex Trust, GK8, and Parfin

        1. Gnosis Safe
          1. multiple signature based crypto self-custody
          2. open source and battle tested since 2017,
          3. DAO treasury management with ~$90bn worth of assets stored in self custody.
        2. Hex Trust
          1. https://hextrust.com/hex-safe
            1. Enterprise-level full custody service
            2. IBM LinuxOne Hardware Secure Module (HSM) with FIPS 140-2 Level 4 Certification.
            3. Full custody and settlement APIs and SWIFT/FIX interface for integrations.
            4. Multi-wallet Infrastructure
            5. Address whitelisting to conduct transactions with verified entities.
          2. institutional-grade digital asset custodian that delivers custody, DeFi, brokerage, and financing solutions to customers in APAC and EMEA.
        3. GK8
          1. Military grade hardware, offline cold vault with a keyless MPC with an unlimited number of automatic co-signers.
          2. SOC2 Type 2-compliant and provides custody solutions for banks, exchanges, family offices, and hedge funds globally.
          3. support for any Ethereum Virtual Machine-compatible layer-1 networks as well as instant integrations with level-2 protocols.
        4. Parfin
          1. modular platform for secure digital asset custody using MPC technology, trading and management.
          2. SOC2 compliant and provide custody solutions for institutional players such as banks, exchanges, family offices, and hedge funds globally.
          3. strong presence in LATAM(South America) with offices in Rio de Janeiro, Brazil
      4. partners: custodians BitGo, Qredo, and Cactus Custody™ for small and large organizations with access to DeFi (institution-required security, operational efficiency, and compliance needs.)

        1. Bitgo:
          1. one of the largest custody and security solutions for clients including big crypto exchanges
          2. the integration of MetaMask Institutional with BitGo wallets allows for key management and custom policies to remain in BitGo
        2. Qredo
          1. offers decentralised crypto custody secured by Multi-Party Computation (MPC)
          2. MPC removes the operational risk around private keys. (It enables multiple parties to evaluate a computation without revealing any of their private data to computing parties.)