Introduction

According to reports, Matrixport, a crypto financial services company under Wu Jihan, announced the integration of its institutional qualified custody service Cactus Customer with the Layer 1 blockchain ecosystem NEAR Protocol. All Matrixport services on Cactus Customer will seamlessly support the NEAR protocol. It is reported that institutional clients will increase their confidence in protecting their native NEP-141 NEAR protocol token assets. In addition, NEP-141 compatible projects will also optimize DeFi operations, further promoting growth through Cactus Customer’s DeFi connectivity solution. （Crowdfundinsider）

Integration of qualified hosting services Cactus Customer with NEAR Protocol

On September 21st, 2021, Matrixport, a leading crypto financial services company operating under the vision of Wu Jihan, announced the integration of its qualification custody service, Cactus Customer, with the NEAR Protocol’s Layer 1 blockchain ecosystem. This move will ultimately provide seamless support and optimized DeFi operations for NEP-141 compatible projects. Through this integration, institutional clients will now have increased confidence in protecting their native NEAR protocol token assets. In this article, we’ll dive deeper into the significance of this move, how it will help support the growth of DeFi and NEAR, and what this integration may bring for these emerging ecosystems.
# Background
Matrixport is a financial technology startup spun out of Bitmain, the world’s largest manufacturer of bitcoin mining equipment. The company has been in operation since 2019 and was created by Wu Jihan, Bitmain’s co-founder. Matrixport provides collateralized lending services, staking, trading and custody, wealth management, and payment processing. NEAR Protocol, on the other hand, is a decentralized application platform that allows developers to create apps without setting up servers or installing blockchain infrastructure. Instead, NEAR Protocol relies on a “sharded” Proof-of-Stake network that automatically scales up to handle increased traffic.
# What is Cactus Customer?
Cactus Customer is Matrixport’s institutional qualified custody service. It allows holders to securely store their digital assets and provides investors with institutional-level protection for their assets. Furthermore, it provides investors with operational efficiencies and streamlined reporting, reducing the time and cost required for administrative work on digital assets.
# The Integration
The integration between Matrixport’s Cactus Customer and NEAR Protocol’s Layer 1 ecosystem is significant. Cactus Customer is designed to provide increased security and flexibility for institutional clients. In contrast, NEAR Protocol is aimed at enhancing blockchain growth and providing developers with a more flexible and open platform for developing decentralized apps. With the integration of Cactus Customer, NEAR Protocol will experience enhanced growth and optimized DeFi operations for NEP-141 compatible projects.
# Optimizing DeFi Operations
Institutional clients who hold NEAR protocol assets will now have the confidence that their assets are secure and protected through Matrixport’s institutional-grade security features. Additionally, NEP-141 compatible projects will now be able to use Cactus Customer’s DeFi connectivity solutions to improve their operational efficiencies, providing a significant boost towards further growth in the decentralized finance space.
# Conclusion
The recent integration between Matrixport’s Cactus Customer and NEAR Protocol’s Layer 1 ecosystem promises to enhance the longevity of the DeFi space. The increased confidence in protecting native NEP-141 NEAR protocol token assets and operational efficiencies will allow projects to further promote growth through Cactus Customer’s DeFi connectivity solution. This integration has taken the first steps to bring together two significant emerging ecosystems, creating the potential for even more collaborative efforts in the future.
# FAQs
1. What is Matrixport, and what services does it offer?
Matrixport is a leading crypto financial services company that provides collateralized lending services, staking, trading and custody, wealth management, and payment processing.
2. What is NEAR Protocol, and how does it work?
NEAR Protocol is a decentralized application platform that allows developers to create apps without setting up servers or installing blockchain infrastructure. It relies on a “sharded” Proof-of-Stake network that automatically scales up to handle increased traffic.
3. How will the integration of Cactus Customer with NEAR Protocol benefit institutional clients?
Institutional clients will now have increased confidence in protecting their native NEP-141 NEAR protocol token assets, while NEP-141 compatible projects will optimize DeFi operations, further promoting growth through Cactus Customer’s DeFi connectivity solution.
# Keywords
Matrixport, Cactus Customer, NEAR Protocol, DeFi, Institutional Clients, Security, NEP-141, Crypto, Financial Services, Emerging Ecosystems.