ConsenSys, the market-leading blockchain technology company founded by Ethereum co-founder Joseph Lubin, announced today that MetaMask now has more than 10 million monthly active users, according to a publication shared with CryptoSlate.

This represents a 19x growth compared to July 2020 and positions MetaMask as the leading non-custody wallet of users worldwide. MetaMask is both a mobile app and a browser extension that acts as a cryptocurrency wallet for interacting with the Ethereum blockchain and any Ethereum compatible network such as Polygon, Arbitrum and Optimism.

The drivers behind MetaMask’s growth

MetaMask’s exponential growth has closely matched that of the Ethereum ecosystem. In 2019, $ 2 billion in crypto assets were made available for Decentralized Finance (DeFi). Today Ethereum supports a thriving Decentralized Finance (DeFi) ecosystem with over $ 80 billion in assets under management.

MetaMask is the primary way a global user base interacts with DeFi applications, along with the vast universe of approximately 17,000 unique Web3 domains that include the rare digital goods marketplace, OpenSea and NFT-based online games.

MetaMask was first created in September 2016 and was a central catalyst in the introduction of decentralized applications on Ethereum. The launch of the mobile version in September 2020 has played a crucial role in quickly attracting new users from global markets such as the Philippines, Vietnam, China, India, Indonesia, Thailand and Brazil.

The introduction of token swaps on MetaMask Mobile in March 2021 also accelerated user growth exponentially.

“MetaMask has defined a new type of cryptocurrency wallet where users interact not just with currencies but with decentralized applications, and we are constantly making these new types of applications more secure and accessible to a wider audience,” said Dan Finlay, MetaMask co-founder , in a statement. “We’re letting users explore new ways to build trust online,” he added.

As of August 2021, the Philippines, United States, Vietnam, United Kingdom, China, India, Russia, Brazil, Indonesia, Thailand, Turkey, Germany, France, Canada, and Spain are among the top 15 countries using MetaMask. Asia is the number one region in terms of user growth, followed by Europe and North America

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