MetaMask, the widely used self-custodial crypto wallet, plans to expand beyond Ethereum by integrating Bitcoin and Solana. The company announced the move on February 28 through its official X account.
The expansion marks a significant shift for the wallet previously known primarily for Ethereum support. Bitcoin integration is expected in the third quarter of 2024, according to MetaMask co-founder Dan Finlay.
Solana will become the first non-Ethereum Virtual Machine (EVM) blockchain supported by MetaMask. This integration is scheduled for May.
The wallet is also developing smart contract capabilities to enhance security. Currently, MetaMask operates as an Externally Owned Account (EOA) that relies on private keys for access. Users who lose their private keys permanently lose access to their funds.
The new Contract Accounts (CAs) will operate via code-based mechanisms. These allow for security checks and recovery options, the company emphasized during ETHDenver, North America's largest Ethereum conference.
"Smart contract accounts will enable enhanced security and new asset management capabilities for users," Finlay said.
MetaMask's roadmap includes implementing ERC-5792 for batched transactions. This feature allows users to streamline multiple transaction steps into a single action. Users can approve and swap tokens simultaneously, reducing gas fees through a more efficient process.
Finlay explained that the new model "will present all necessary operations to the user at once, allowing them to pay a single gas fee for a sequence of actions executed within a single block."
The company will expand its debit card availability beyond the UK and EU. The card will become accessible to select U.S. states by mid-March. Linked directly to users' MetaMask wallets, the card allows spending of crypto holdings at any Mastercard-accepting merchant.
Users will earn staking rewards on their assets while maintaining instant access to funds for everyday transactions.
MetaMask aims to simplify the crypto experience by eventually eliminating gas fees. The company plans to upgrade gas-included swaps, enabling users to pay for transactions using any token rather than being restricted to network-specific assets.
Additionally, a redesigned home screen will display all assets across multiple chains in a unified view. This eliminates the need for users to switch between networks, positioning MetaMask as a more versatile multi-chain wallet.
Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.