MetaMask to Integrate Bitcoin and Solana in 2024, Expanding its Ecosystem and Eliminating the Need for Third-Party Wallets
MetaMask is set to make a significant leap by integrating support for Bitcoin and Solana this year. This major development will allow users to access these two ecosystems without relying on third-party wallets or wrapped tokens.
As solutions like Rabby or Phantom have recently gained impressive market shares, criticisms of MetaMask have grown louder.
The launch of support for Solana is planned for May, marking a first for MetaMask, which has so far only supported blockchains compatible with the Ethereum Virtual Machine (EVM). The complete integration of Bitcoin is expected in the third quarter.
All MetaMask users will be able to buy, sell, trade, and interact with Solana’s dApps. Existing Solana users will benefit from MetaMask’s security and advanced features while retaining access to other supported blockchains.
This decision comes as Solana has experienced explosive growth, driven in part by the wave of memecoins on its network. In January alone, the blockchain recorded over 12 billion transactions, although the past few weeks have been less positive for the network.
An Extensive Redesign of the User Experience
Alongside the support for new blockchains, MetaMask plans a major redesign of its user interface and overall experience. Among the announced improvements is a feature that will allow users to perform swaps without holding ETH to pay for transaction fees. This enhancement, which abstracts gas fees, will be deployed in March on all transactions, enabling users to pay fees with any token.
Another expected innovation is the ability to use multiple Secret Recovery Phrases (SRPs) to manage multiple distinct wallets within a single MetaMask application. This functionality, which facilitates the management of multiple crypto identities in one environment, will be available next month.
A Physical Wallet for Crypto Payments
In parallel, MetaMask has announced the arrival of a physical MetaMask card, enabling payments in crypto through the Mastercard network. While a virtual version of this card is already available in some regions, the physical version will be launched in April, providing a new gateway between the crypto and traditional commerce worlds.
Reconciliation with the SEC
As these technological developments unfold, MetaMask is also emerging from a legal battle with the United States Securities and Exchange Commission (SEC). Joseph Lubin, founder of Consensys, announced that an agreement has been reached to end the agency’s investigation into MetaMask, which was accused of violating securities laws with its staking service.
This settlement comes at a time of relaxation between the SEC and the crypto industry. Earlier this month, the commission also agreed to drop its case against Coinbase and suspended its proceedings against Binance for 60 days.
