ConsenSys, the makers of the popular MetaMask wallet, has confirmed that it has acquired MyCrypto and is planning to merge the two solutions to offer improved security and user experience. With this development, the firm looks set to get a jumpstart into driving Web3 adoption in the coming months.

MyCrypto is a Web3 based solution that lets users unify all their Ethereum accounts and enjoy a single point of access to them while MetaMask is one of the most popular crypto wallets, especially among DeFi and NFT users. According to a blog post on MyCrypto, the two companies will work together to create a robust experience across mobile, desktop, Web and browser interfaces.

Co-founder at MetaMask, Dan Finlay, observes, “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. 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.”

While the two products will continue to function independently in the near future, they are expected to collaborate on improving anti-phishing features, developing their marketing and community management efforts and exploring other requested developments. The long term goal is to build a wallet that can function across multiple networks, devices and interfaces.

ConsenSys, the blockchain infrastructure provider that now owns both these brands, was valued at $3.2 billion after raising $200 million in its latest fundraising round held in November 2021. Key investors in the company include Dragonfly Capital, Coinbase Ventures, Animoca Brands, Marshall Wace, and more.