MetaMask Expands Bitcoin Support
MetaMask has rolled out an exciting new update to its cryptocurrency wallet, which now includes direct support for Bitcoin. This enhancement improves the user experience by allowing users to buy Bitcoin using fiat, transfer it on-chain, and swap it seamlessly with Ethereum Virtual Machine (EVM) assets and tokens from the Solana network.
Significant Developments
This development marks a significant step in MetaMask’s strategy to expand across multiple blockchain environments, complementing past integrations that introduced support for Solana and other non-EVM platforms through its innovative Snap plugin technology.
New Features and Future Updates
The wallet also introduces support for native Segregated Witness (SegWit) addresses, with future updates promising to integrate Taproot address functionality as well, according to the company’s announcements. As part of its expansion, MetaMask—operated by Consensys, a studio well-known for its contributions to Ethereum—has added new features that include:
- A Polymarket on-ramp
- Its own mUSD stablecoin
- In-app perpetuals powered by Hyperliquid
Rewards Program and Future Plans
Moreover, users who engage in BTC transactions will accumulate MetaMask Rewards points, set to be integrated with a newly anticipated rewards program valued at over $30 million in LINEA tokens. This initiative coincides with Consensys’s ongoing preparations for an initial public offering (IPO) and reflects its commitment to further developing the Ethereum Layer 2 network known as Linea.
Industry Trends
The push towards Bitcoin capabilities within MetaMask aligns with noteworthy industry trends, highlighting the increasing demand for multi-chain wallets that facilitate significant digital assets while offering streamlined on-chain activities and rewards. The company has hinted at future enhancements aimed at bridging both EVM and non-EVM networks, further positioning MetaMask at the forefront of cryptocurrency innovation.
