MetaMask, a popular wallet application, is said to be working on adding support for Bitcoin (BTC). This move is part of the company’s efforts to expand its services and products within the Bitcoin ecosystem. According to sources familiar with the matter, the integration could be completed in June and will be implemented in stages, with more features being added over time.
When asked for confirmation, MetaMask did not provide a clear response. A spokesperson stated that the application primarily supports Ethereum and Ethereum-based tokens, such as the ERC-20 standard. However, Bitcoin users who wish to use MetaMask can find alternatives, such as using wrapped Bitcoin (wBTC), which is an ERC-20 token that represents Bitcoin on the Ethereum blockchain.
In recent years, MetaMask has focused on providing a multi-chain experience for its users. In September 2023, the company introduced a feature called Snaps, which allows the application to integrate with non-native blockchains and tokens, including Bitcoin. With Snaps, users can manage their Bitcoin directly within the MetaMask interface, without the need to wrap their tokens in the Ethereum network.
While Snaps requires developers to set up and understand Bitcoin initially, the native support for Bitcoin would offer a simpler experience for end-users. This means that Bitcoin holders will be able to use MetaMask without any workarounds or additional steps.
MetaMask has also made other recent business developments, including a partnership with PayPal that enables users in the United States to buy Ether (ETH) directly through the wallet. Additionally, the company has introduced a staking service that allows users to run their own Ethereum validator node by depositing 32 ETH.
Despite its popularity, MetaMask has faced security challenges, including phishing campaigns and a recent breach that affected nearly 7,000 users. However, the company continues to innovate and expand its offerings, aiming to provide a seamless and secure experience for its over 30 million monthly active users.
Overall, MetaMask’s potential support for native Bitcoin integration is an exciting development that will further enhance the capabilities of this widely used wallet application.