Consensys Acquires Web3Auth to Enhance MetaMask Functionality – Coincu

Consensys announced the acquisition of Web3Auth, a Singapore-based wallet infrastructure provider, aiming to enhance MetaMask by integrating simplified Web2 login mechanisms without disclosing transaction specifics.

This acquisition aims to broaden MetaMask’s global reach, primarily targeting the Asian market, with enhanced support for non-EVM chains like Solana and Bitcoin.

Consensys Targets Asia with MetaMask Web2 Integration

Consensys has acquired Web3Auth to simplify MetaMask’s seed phrase management, thereby enhancing user experience by enabling Web2 login functionalities. This acquisition integrates over 500,000 users into MetaMask and supports non-EVM chains with Bitcoin functionality expected in Q3 2025. The move aims to reduce complexities associated with crypto wallet management, especially in preventing wallet access loss. Users will leverage familiar web2-based login methods instead of manual seed phrase storage.

Individuals like Dan Finlay, co-founder of MetaMask, support the acquisition, emphasizing onboarding new users. Finlay noted:

“This move is about getting more people in and prevents devastating losses due to mismanagement.”

Ethereum Price Rises Amid Simplified Adoption Tactics

Did you know? Consensys’ strategic acquisition of Web3Auth aligns with industry trends where simplifying user access is key, inspired by previous Web2-style integration efforts by platforms like Coinbase.

According to CoinMarketCap, Ethereum (ETH) holds a market cap of $315.96 billion, at 9.50% market dominance with a current price of $2,617.22. ETH has seen a 42.74% rise over 30 days, emphasizing its resilience and investor confidence as of June 3, 2025.

Insights from Coincu research team indicate that reducing the entry barriers for non-crypto users can boost wallet adoption. The success of this endeavor could potentially expand MetaMask’s presence across Asia, enhancing broader Web3 acceptance through simplified technological interfaces.