MetaMask Expands to Multichain Support with Bitcoin and Solana Integration
- MetaMask now supports Solana, allowing its 30 million monthly active users to manage SOL and SPL tokens.
- Bitcoin support is planned for release in the third quarter, potentially making MetaMask the first wallet to natively support Ethereum, Solana, and Bitcoin.
- Artemis data indicated that Solana’s monthly active addresses matched those of every other layer-1 and layer-2 network combined as of June.
- Phantom, a Solana-native wallet, has also added support for Ethereum and Bitcoin, boasting over $25 billion in user assets.
- MetaMask allows users to import existing Solana wallets using the same Secret Recovery Phrase as their Ethereum wallets.
The integration of multiple chains aims to simplify user experience by providing a unified portfolio view across different ecosystems while addressing security concerns related to seed phrase management.
If successful, MetaMask could convert a significant portion of its user base into active cross-chain participants, enhancing its position in the competitive landscape of crypto wallets. (Source)
