Consensys, the Ethereum infrastructure company behind the popular MetaMask wallet, said it has acquired Web3Auth, a provider of wallet infrastructure, in a move aimed at improving usability and developer accessibility across its platforms.
STORY CONTINUES BELOW
Financial terms of the deal were not disclosed.
Trending: Police Forced to Call in Aerial Support as ‘Senior Cut Day’ Spirals Out of Control
The acquisition is designed to modernize MetaMask’s onboarding experience and tackle one of the most persistent challenges facing self-custodial crypto wallets: seed phrase management. According to Consensys, internal data indicates that 35% of MetaMask users fail to back up their seed phrases — a key vulnerability that can result in permanent loss of funds.
Web3Auth’s technology, already integrated across some 8,200 decentralized applications, offers login and recovery tools that mirror Web2-style user flows. With this integration, MetaMask users will
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!