Curv Partners with ConsenSys to Launch Enterprise-Grade DeFi Solution for Institutions

Partnership combines market leaders in digital asset security and decentralized application (DApp) interoperability

Today, we proudly announce the release of Curv DeFi, our enterprise-grade decentralized finance (DeFi) solution for institutions. Curv DeFi builds on our successful integration with the Compound protocol earlier this year and our new partnership with ConsenSys. Through this endeavor, 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 minimizes one’s need to trust and rely on central authorities. At the beginning of 2020 there was approximately U.S. $5 billion in value locked in DeFi smart contracts, predominantly in retail borrowing and lending platforms. Today, there is over U.S. $14 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,” said 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. “Since there is no reliable and secure institutional solution for DeFi, organizations are reverting to retail-level use of MetaMask or custom integrations with individual apps as a workaround. Curv’s partnership with MetaMask enables the combined ease of use and application-readiness of MetaMask together with Curv’s enterprise-level controls and protections that is core to our security infrastructure.”

Stani Kulechov, CEO of decentralized money market Aave stated, “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.”

Curv’s newest solution, Curv DeFi, is compatible with any smart contract or function.

Curv DeFi affords clients full compliance auditability with a complete transaction log

About ConsenSys

ConsenSys is the leading Ethereum software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, Truffle, and Diligence, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open source foundation, we are building the digital economy of tomorrow. To explore our products and solutions, visit https://consensys.net/.