Consensys acquires Web3Auth to improve MetaMask user experience and expand multi-chain support

Recently, Consensys announced the acquisition of wallet infrastructure provider Web3Auth, aiming to simplify the seed phrase management of MetaMask wallets by introducing Web2 login methods, improve user experience, and accelerate support for non-EVM chains such as Solana and Bitcoin.

Web3Auth is a Singapore-based company that provides embedded wallet and key management infrastructure, supporting users to create and restore wallets through Web2 methods such as social media accounts and device authentication, reducing the risks brought by traditional seed phrase management. According to Consensys, about 35% of users do not back up their seed phrases, which poses a risk of losing funds.

The acquisition will also strengthen MetaMask's layout in the Asian market. Web3Auth currently serves more than 50 million end users and supports more than 8,200 Web3 applications.

Consensys plans to integrate Web3Auth's technology in stages, first integrating it in developer tools, and then launching full Bitcoin functionality in the third quarter of 2025.

This acquisition is one of many strategic acquisitions by Consensys in the past two years to enhance MetaMask's functionality and global influence.