MetaMask, a leading crypto wallet provider, has announced a significant expansion within the multichain ecosystem by introducing native Bitcoin support. This shift represents a transformative change for the platform, which has historically been associated primarily with Ethereum-based networks.
The new feature allows users to buy, swap, and send Bitcoin (BTC) directly from their MetaMask wallets, moving away from reliance on wrapped Bitcoin methodologies that involve intermediaries and present additional smart contract risks. This expansion was teased nearly ten months ago, with the company confirming its rollout via social media this week. In addition to Bitcoin, users can now manage multiple cryptocurrencies, including Ethereum, Solana, Monad, and Sei.
MetaMask reported that the integration enables users to easily buy Bitcoin, swap other tokens for BTC, and engage in transactions with the cryptocurrency, all of which appear automatically in their asset list upon confirmation. Nonetheless, the company did caution users that Bitcoin transactions may take longer to settle compared to those conducted on EVM-compatible chains or Solana due to the inherent characteristics of Bitcoin’s network.
To further incentivize user engagement with Bitcoin, MetaMask is offering reward points for transactions that include the cryptocurrency. The integration signifies a broader strategy by MetaMask to enhance its functionality as a multi-chain wallet, a direction the company began moving towards earlier in the year with the addition of Solana, followed by integrations with Sei and Monad.
The announcement also comes with news of a new integration with Polymarket, a prediction market platform that allows users to wager on real-world events directly from their MetaMask wallets. This feature will introduce one-tap funding, enabling deposits from any EVM-compatible chain, and will reward users with MetaMask points for their predictions.
Polymarket has seen impressive growth, particularly during the recent US election cycle, and is reportedly evaluating a significant valuation of up to $15 billion following strategic investments, including one from the Intercontinental Exchange. The wallet provider is also preparing for the rollout of a native MASK token, coinciding with broader plans from its parent company, Consensys, which may be eyeing an initial public offering (IPO).
Amidst this expansion, Polymarket is reportedly building an internal market-making team to trade against its own customers, a controversial feature that has already sparked criticism and legal challenges in the industry.
