MetaMask, the non-custodial digital wallet that has become a key gateway to the world of decentralized finance (DeFI), said the number of its monthly active users hit 10 million in July, with the Asian market leading the growth.
- The number of monthly active users increased from 545,080 in July 2020 to 10.4 million this month, representing growth of over 1,800%, according to ConsenSys, the software company that owns MetaMask.
- MetaMask functions much like a bitcoin wallet, allowing users to sign in to decentralized applications and use them through a regular browser.
- The wallet is one of the most popular ways for users to access the Ethereum blockchain and growth has been fueled in part by the boom in non-fungible tokens (NFTs).
- MetaMask said the launch of its mobile version last September has helped its rapidly increase its user base in the Brazil, China, India, Indonesia, the Philippines, Thailand and Vietnam. The launch of token swaps on mobile in March also has accelerated user growth.
- There are now more than 10 million users using MetaMask to swap tokens, borrow, lend, mint and buy NFTs and play games.
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