MetaMask Institutional (MMI) Introduces Organisational-level ERC-20 Token Approval Management

MetaMask Institutional (MMI) has released ERC-20 token approval revocation – continuing in our efforts to enhance security and empower organisations to control, monitor, and manage their web3 assets. Now available directly from the MMI Portfolio Dashboard.

Why it's valuable for organisations

When interacting with DeFi applications, it's common for ERC-20 token holders to grant spending approvals to smart contracts. However, these approvals can sometimes remain active indefinitely, exposing assets to unnecessary risk. Whether due to forgotten permissions or a potential vulnerability in a contract, unrevoked approvals can create a security risk. MMI's new approval management feature allows institutional users to review and revoke ERC-20 token approvals seamlessly within their portfolio dashboard.

How it works

Many third-party revoking tools are in the market today, however they solely function with accounts tied to a single wallet. This leaves organisations, who often have multiple users operating across numerous wallets and accounts, in the lurch. Dedicated to providing a delightful user experience, MMI’s allowance management feature enables users to edit or revoke all approvals across all wallets tied to an organisation. From the MMI Portfolio Dashboard, users can navigate to the Risk Management section and now view all active ERC-20 token approvals.

In just a few clicks, users can selectively edit or revoke ERC-20 approvals across their organisational accounts. We batch these transactions across accounts and networks, to offer a seamless experience. Users no longer have to edit or revoke transactions per account, or per network, an operational task that can take hours and multiple approvals in the context of an organisation.

Empowering organisations

Organisations are given a comprehensive overview of their risk exposure, with MMI’s holistic view of all approvals across all custodians and self-custody providers, as well as accounts and wallets connected to MMI. Accordingly, organisations can better manage and mitigate potential exposure to threats and risks

Our focus is to offer unrivaled web3 access, and to empower organisations to monitor, manage, control and report on their assets – all through the MMI Portfolio dashboard, a curated web3 aggregator.

Learn more about connecting MetaMask Institutional’s ERC-20 approval management feature here.