MetaMask is designed to integrate native Bitcoin functionality.
MetaMask integrates native Bitcoin support, bridging the Ethereum-Bitcoin gap. Although there are no exact time limits, the merger is expected within a month. Currently, MetaMask uses Wrapped Bitcoin (WBTC) to connect Bitcoin to Ethereum decentralized applications.
MetaMask, known as the widely used Ethereum (ETH) wallet, is set to overcome the biggest tribal divide in the crypto sphere with support for Bitcoin (BTC).
The move, expected within the next month, marks a major step toward interoperability in the ever-expanding world of cryptocurrencies.
This news comes on the back of Metamask's integration with Coinbase Onramp, allowing Coinbase users to seamlessly purchase an active Coinbase account and transfer crypto directly to their MetaMask wallet by selecting the Coinbase Pay option.
MetaMask's multi-chain approach is part of Bitcoin integration
This development highlights MetaMask's commitment to adopting a multi-chain approach in the Web3 landscape.
Currently, MetaMask does not facilitate Bitcoin transactions directly, but uses Wrapped Bitcoin (WBTC), an Ethereum-compatible ERC-20 token, to connect Bitcoin to Ethereum decentralized applications.
But the upcoming integration of native Bitcoin functionality in Metamask holds the potential to streamline user interactions across different blockchain ecosystems, further enhancing interoperability and service of both Ethereum and Bitcoin to users around the world.
With over 30 million monthly active users, MetaMask serves as the critical gateway to decentralized applications (dApps) and non-traceable tokens (NFTs) on the Ethereum blockchain.
As Ethereum continues to pioneer innovations such as smart contracts, MetaMask has played a critical role in facilitating user navigation in this smart contract-based environment.
Now, with plans to include Bitcoin functionality, MetaMask is set to expand its services and attract a wider audience of cryptocurrency enthusiasts.
There is no exact timeline for the merger.
While the exact timeline of the integration is uncertain, sources familiar with the matter suggest that access to native Bitcoin functionality could come to the MetaMask platform in the coming months.
However, the unique features and capabilities of Bitcoin support are yet to be finalized. It is expected that the initial activities will be limited, with expansion and renovations being phased in over time.
MetaMask's parent company, ConsenSys, has expressed its excitement at the prospect of Web3's adoption of the multi-chain world led by Ethereum founder Joe Lubin.
A MetaMask spokesperson emphasized the company's continued commitment to improving usability and security while exploring new integrated features for the self-guard wallet.