ConsenSys Acquires MyCrypto to Further Enhance Its Web3 Wallet

UTC by John Caroline · 2 min read
ConsenSys Acquires MyCrypto to Further Enhance Its Web3 Wallet
Photo: MyCrypto

Consensys has disclosed a new acquisition of Ethereum interface MyCrypto. The development will see its wallet provider, MetaMask, integrating with MyCrypto to offer customers with better and safer user experience.

Ethereum scaling firm ConsenSys has reportedly taken full ownership of MyCrypto, a wallet solution provider focused on the Ethereum network following a recent announcement on Tuesday.

MyCrypto is a crypto wallet manager that provides its users with secured and accessible wallet solutions via web browsers and desktops, while also enhancing the connection between decentralized applications.

ConsenSys Combines MyCrypto with MetaMask

The web3 era might have begun already as crypto companies are making necessary moves to fit suitably with the web3 standards, hence upping their services and products to better serve their customers. ConsenSys is neither lagging behind on this trend as the company seeks to provide a wallet experience capable of allowing users to fully utilize the rapidly evolving Web 3 wallet landscape.

Although the terms validating the acquisition contract seem to have been handled discreetly as it was not unveiled to the public. Nonetheless, the new development will see ConsenSys combining the infrastructures of MyCrypto with that of MetaMask to further improve the efficiency and security of its products.

The co-founder of MetaMask Dan Finlay, elaborated on the essence of the acquisition being aimed towards MyCrypto and MetaMask wallets. His comments read:

“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 Web 3 wallet landscape.”

Following the announcement, the integration intended towards MetaMask and MyCrypto will not terminate the services of  MyCrypto to its current users and audience. In other words, the new development will not cause MyCrypto to cease its operations but the combined energy of both companies will be ventured majorly into the MetaMask product as it has a wider range of audiences than MyCrypto.

Moreso, the new development seems to be appealing to the MyCrypto team as they believe the merge will serve as an avenue to help the company achieve its major aim of providing users with safety and security.

Since it is the mutual aim of both companies to ensure user security and provide enthusiasts with amazing experiences with cryptocurrencies, there are possibilities of a swift and productive output from the acquisition.

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