Consensys has acquired Web3Auth, aiming to enhance the user experience of its popular MetaMask crypto wallet. Here’s how:
Solving Seed Phrase Management Issues: In a June 2 blog post, Consensys stated that the acquisition will address one of the biggest risks in self – custody: seed phrase management. It’s claimed that 35 % of crypto wallet users are at risk of losing their funds because they don’t back up their seed phrases. By integrating Web3Auth, MetaMask users can create and recover wallets using familiar Web2 login methods like social accounts and device authentication, eliminating the need to manually back up seed phrases and reducing the risk of fund loss.
Speeding Up Support for Non – EVM Chains: The integration is expected to accelerate MetaMask’s support for non – EVM chains such as Solana and Bitcoin. MetaMask added support for Solana on its web – based browser extension recently and plans to offer full Bitcoin support in the third quarter of 2025.
Simplifying the Onboarding Experience: The acquisition allows developers to embed wallet SDKs and key management tools, providing a smoother onboarding experience. The integration will be rolled out in phases. The initial phase focuses on developer tools and seamless embedded wallet adoption, including integrating Infura’s JSON – RPC capabilities into Web3Auth’s wallet solutions, connecting Web3Auth embedded wallets with the MetaMask delegation toolkit, and enabling two – way access between MetaMask for developers and Web3Auth dashboards.
Related topic:
