MetaMask

MetaMask is a popular self-custodial cryptocurrency wallet and gateway to blockchain applications, primarily focused on Ethereum and Ethereum-compatible networks. Developed by ConsenSys, MetaMask was launched in 2016 and has since grown to over 30 million monthly active users as of March 2022. Available as both a browser extension for Chrome, Firefox, Brave, and Edge, as well as a mobile app for iOS and Android, MetaMask allows users to store, send, and receive Ethereum and ERC-20 tokens.

The wallet provides a user-friendly interface for interacting with decentralized applications (dApps), enabling users to manage digital assets, participate in decentralized finance (DeFi) protocols, and engage with non-fungible tokens (NFTs). MetaMask generates and securely stores private keys on the user's device, giving them full control over their funds. The wallet also features a built-in token swap function, allowing users to exchange cryptocurrencies directly within the interface.

In 2024, MetaMask introduced several new features to enhance user experience and security. The wallet implemented "Smart Transactions," a feature designed to protect users from maximal extractable value (MEV) and front-running attacks. This system uses a "virtual mempool" to simulate transactions before they are officially submitted to the blockchain, potentially saving users money on failed transactions and improving overall transaction efficiency.

Key customers and partnerships

MetaMask has established partnerships with various companies to expand its services and improve user experience. In February 2024, MetaMask integrated with Robinhood to streamline access to Web3, allowing Robinhood customers to purchase cryptocurrency through MetaMask's Buy Crypto feature using Robinhood's low-cost order engine. This collaboration aims to provide a more frictionless and secure onboarding experience for users entering the Web3 space.

In August 2024, MetaMask began rolling out a blockchain-based debit card developed in partnership with Mastercard and Baanx. The MetaMask Card allows users to spend their digital assets directly from their self-custodial wallet for everyday purchases wherever cards are accepted. The initial pilot program was launched for users in the European Union and the UK, with plans for broader distribution later in the year.

To enhance security measures, ConsenSys acquired Wallet Guard in July 2024, integrating its advanced security features into MetaMask. This acquisition aims to improve scam and drainer detection through transaction validation and client-side heuristics, further strengthening MetaMask's commitment to user protection within the Web3 ecosystem.