ConsenSys Acquires MyCrypto, Teams with MetaMask

Blockchain software firm ConsenSys has acquired Ethereum interface MyCrypto as it plans to collaborate with the Web3 wallet MetaMask.

ConsenSys announced the changes in a news release Tuesday (Feb. 1), saying the MetaMask/MyCrypto partnership would see the firms “combining their efforts under a shared banner to further improve the security of all the products and create a cohesive user experience across desktop, mobile, extension and browser wallets.”

Launched in 2015, MyCrypto’s Ethereum wallet offers “secure and accessible solutions” for web browsers and desktops. MetaMask’s focus is on general-purpose DApp interactions. Its non-custodial crypto wallet for mobile and browser extensions has more than 21 million monthly active users.

“By combining their shared values, talent and goals, MetaMask and MyCrypto will be able to provide users with a heightened experience that is even more extensive and secure,” ConsenSys said.

Read more: ConsenSys Crypto Investors Include JPMorgan, Mastercard, With $3B Valuation

The company notes that the “MetaMask and MyCrypto teams have been friends and Ethereum colleagues” for years, weathering market fluctuations and collaborating to educate the Ethereum community on security best practices.

“MyCrypto has consistently been one of the most reliable and intercompatible wallets in Ethereum, often shipping cutting-edge Ethereum features ahead of other wallets, while MetaMask has focused on general-purpose DApp interactions,” said Dan Finlay, co-founder of MetaMask.

“With our talents combined, and our strong sense of shared ethics and goals for this ecosystem, I think we’ll be able to provide a wallet experience that is much more able to help its users make the best decisions through this rapidly evolving Web3 wallet landscape,” he said.

See also: Visa Teams with ConsenSys for Central Bank Digital Currency Pilot

The news comes three weeks after ConsenSys launched a collaboration with Visa to launch a central bank digital currency (CBDC) pilot that will test retail applications like cards and wallets.

The two companies will start by conducting talks with about 30 central banks to determine what the monetary authorities expect to achieve with government-backed digital currencies. The pilot is projected to launch this spring.