Consensys acquires Web3Auth to optimize MetaMask experience and accelerate Bitcoin support

According to The Block, Consensys has acquired wallet infrastructure provider Web3Auth with the aim of simplifying MetaMask seed phrase management and enhancing user experience through Web2 login. The transaction details have not been made public. This integration will also accelerate support for non EVM chains such as Solana and Bitcoin, with full Bitcoin functionality expected to be launched in Q3. The Web3Auth service covers over 500000 end users, which also strengthens MetaMask's global presence, especially in the Asian market.