MetaMask – the famous Ethereum wallet with over 250 million users – is preparing to undergo its biggest transformation ever, after parent company Consensys announced the acquisition of Web3Auth, a startup specializing in cryptocurrency wallet login using social media accounts.
#Web3Auth allows users to access crypto wallets using Google, Facebook, or Discord, instead of having to remember a “recovery phrase” of 12–24 words – a significant barrier that makes it difficult for newcomers to engage.
Dan Finlay, co-founder of MetaMask, shared: “Not everyone is ready to learn how to store private keys. This deal makes it easier for them to access and prevents the unfortunate loss of assets.”
The 30-member team from Web3Auth will join #MetaMask , although the financial terms were not disclosed. This is part of a comprehensive overhaul plan for MetaMask – which is already 8 years old – including additional support for Solana, Bitcoin, refreshing the mobile app, and releasing an exclusive Mastercard metal card.
In the face of increasing competition from new wallets like Phantom – which currently has 15 million users – MetaMask is forced to accelerate innovation. The cryptocurrency wallet industry is currently witnessing the strongest wave of mergers and acquisitions since the bull run of 2021, with 97 deals worth approximately $5 billion in just the first five months of 2025.
Consensys is also active in the investment arena, such as the $425 million funding into SharpLink Gaming to support their integration of Ethereum.
Connecting with crypto: This move makes MetaMask more user-friendly for newcomers – the potential user group that Binance and other DeFi platforms are eager to attract. If successful, it could drive growth across the entire Web3 industry.
Risk warning: Investing in cryptocurrency can yield high returns but also carries significant risks. You should thoroughly research before participating and only use money you can afford to lose. #anhbacong
