Metamask to enable Bitcoin and Solana support alongside smart contract features

MetaMask is about to release a critical update that will include smart contract capabilities and native compatibility for the Bitcoin and Solana networks. The statement, published on February 28 via Metamask’s official X account, represents a significant development for the wallet, which has previously concentrated on the Ethereum eth-9.86% ecosystem. 

The update will include a revamped user interface, the ability to manage several seed phrases from a single wallet, and abstracted gas fees, allowing users to pay for transactions with any currency other than ETH.  

In addition, the platform intends to introduce smart transactions, a feature aimed to reduce failed transactions and limit MEV attacks. Following Ethereum’s next Pectra upgrade, MetaMask will provide smart account capabilities to improve the self-custody mechanism. 

This release will make MetaMask a cross-chain wallet that prioritises security and usability while managing assets across many blockchains.

The announcement comes after Consensys, MetaMask’s parent firm, secured a regulatory triumph. As previously stated by Crypto. On February 27, the United States Securities and Exchange Commission ended its inquiry into the Ethereum development business. 

Consensys was charged with operating as an unregistered securities broker as part of a larger investigation led by former SEC Chair Gary Gensler. However, since temporary Chair Mark Uyeda took office, the agency has softened its approach and dismissed proceedings against Uniswap, Gemini, Coinbase, OpenSea, and Robinhood. 

Consensys founder and Ethereum co-creator Joseph Lubin described the ruling as a triumph for the cryptocurrency sector.

Despite MetaMask’s continued dominance in the self-custodial wallet business, competition is heating up. Phantom, the most popular wallet on Solana sol-9.55%, has reached 15 million users since its introduction in 2021. Phantom originated as a Solana-only wallet, but has recently expanded into the Ethereum ecosystem. MetaMask’s current roadmap suggests an attempt to maintain its dominant position in the fast evolving cryptocurrency wallet sector. 

Crypto-asset investments are high-risk; you may lose your capital.