coindesk.com
MetaMask, the non-custodial digital wallet that has become a key gateway to the world of decentralized finance (DeFI), said its monthly active users hit 10 million in July, with the Asian market leading growth.
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Users increased from 545,080 monthly users in July 2020 to 10,354,279 in August 2021, representing growth of over 1,800%, according to ConsenSys, the Ethereum software company that owns MetaMask.
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MetaMask functions much like a bitcoin wallet, allowing users to sign in to decentralized applications and use them through a regular browser.
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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).
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MetaMask said the launch of its mobile version in September last year has helped the firm rapidly increase its user base in the Philippines, Vietnam, China, India, Indonesia, Thailand and Brazil. The launch of token swaps on mobile in March 2021 also has accelerated user growth.
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There are now over 10 million users using MetaMask to swap tokens, borrow, lend, mint and buy NFTs and play games.