MetaMask Working to Support Native Bitcoin (BTC) Integration: Report
MetaMask, a popular wallet application known for its support of Ethereum and Ethereum-based tokens, is reportedly gearing up to add native support for Bitcoin (BTC). This move comes as part of the company’s efforts to expand its services and products across the Bitcoin ecosystem, joining other firms looking to tap into the growing demand for Bitcoin integration.
According to sources familiar with the matter, the integration of Bitcoin support on MetaMask could be rolled out in June, with features being delivered in batches and expanding over time. While MetaMask has not officially confirmed or denied the news, a spokesperson for the company stated, “While we can’t confirm any timeline for specific developments at this time, we’re always working on innovations to serve our users better. Stay tuned for further updates when we’re ready to share more.”
Currently, Bitcoin holders looking to use MetaMask have had to resort to workarounds such as using wrapped Bitcoin (wBTC), an ERC-20 token that represents Bitcoin on the Ethereum blockchain. However, with the potential native support for Bitcoin on MetaMask, users can expect a more seamless experience without the need for such workarounds.
MetaMask has been focusing on providing a multichain experience for its users in recent years, with the introduction of features like Snaps, which allow the application to integrate with non-native blockchains and tokens, including Bitcoin. This move towards native support for Bitcoin is expected to simplify the user experience and make managing Bitcoin within the MetaMask interface more straightforward.
In addition to the potential Bitcoin integration, MetaMask has recently made headlines for its partnership with PayPal to allow users in the United States to buy Ether (ETH) directly through its wallet. The company has also introduced a new staking service that enables users to run their own Ethereum validator node with a deposit of 32 ETH.
With over 30 million monthly active users, MetaMask has become a target for various phishing campaigns and security incidents. Despite these challenges, the company continues to innovate and expand its offerings to cater to the growing demand for cryptocurrency services. Stay tuned for further updates on MetaMask’s native Bitcoin support as the company works towards enhancing its platform for users.