Blockchain software technology company ConsenSys has acquired Ethereum wallet interface provider, MyCrypto, to integrate it with its popular MetaMask wallet.
Announcing the acquisition in an official blog post on Tuesday, the company noted that MetaMask and MyCrypto will combine their efforts to “improve the security of all the products and create a cohesive user experience across desktop, mobile, extension, and browser wallets.”
Currently, MetaMask boasts more than 21 million monthly active users and is one of the most popular crypto wallets because of its stability and compatibility, providing secure solutions for users. It is also one of the top non-custodial wallets for mobile and browser extensions globally.
The integration with MyCrypto will not only bring MetaMask to more platforms and encourage more integrations with the wallet, but it will also provide users with an enhanced and secure experience.
Speaking on the acquisition, Dan Finlay, the co-founder of MetaMask, said:
“MyCrypto has consistently been one of the most reliable and inter-compatible wallets in Ethereum, often shipping cutting-edge Ethereum features ahead of other wallets, while MetaMask has focused on general-purpose dapp interactions.
With our talents combined, and our strong sense of shared ethics and goals for this ecosystem, I think we’ll be able to provide a wallet experience that is much more able to help its users make the best decisions through this rapidly evolving Web3 wallet landscape.”
Although ConsenSys did not disclose the terms of the acquisition, the company noted that both wallets will continue to operate independently in the near term with the eventual goal of merging features and brands.
Taylor Monahan, founder, and CEO of MyCrypto, also commented, saying,
“With the rapid growth of the ecosystem and products racing to ship slick features, it is imperative that the leading wallet continues to build foundational and secure self-custody tools that empower the user. Combining our years of experience and shared values allows us to accelerate our mission of providing a way for users to fully realize their self-sovereignty.”
The unified product offerings will be led by MetaMask’s Dan Finlay and Aaron Davis, alongside MyCrypto’s Taylor Monahan. MyCrypto’s team of 12 employees will also be joining ConsenSys.