MetaMask, the popular Ethereum wallet with over 30 million monthly active users, is reportedly preparing to support native Bitcoin (BTC) transactions, according to reports citing persons familiar with the matter.While the company has not officially confirmed the rumors or provided a specific timeline, the integration could potentially be available as early as June, with features expanding over time.
MetaMask’s move to integrate Bitcoin would bridge one of the biggest tribal divides in the cryptocurrency space. The wallet application currently supports Ethereum and Ethereum-based tokens, such as the ERC-20 standard used for creating and issuing smart contracts on the Ethereum network.Bitcoin holders wishing to use MetaMask have had to resort to workarounds, such as using wrapped Bitcoin (WBTC) – an ERC-20 token representing Bitcoin on the Ethereum blockchain. However, the rumored native Bitcoin support would provide a more straightforward experience for end-users, eliminating the need to wrap their tokens in the Ethereum network.In September 2023, MetaMask introduced a feature called Snaps, allowing the application to integrate with non-native blockchains and tokens, including Bitcoin. While this feature enables users to manage their Bitcoin within the MetaMask interface, it requires developers to set up and understand Bitcoin initially. Native Bitcoin support, on the other hand, would streamline the process for users.MetaMask’s potential foray into the Bitcoin ecosystem comes at a time when the leading cryptocurrency has seen the emergence of new functionalities, such as NFT-like Ordinals and Runes, which have enabled the creation of meme coins on the Bitcoin blockchain.
