ConsenSys’ announcement comes as the number of monthly active users of its MetaMask non-custodial wallet product exceeded 21 million — a 38-fold increase from 2020 — alongside the explosive growth of the Ethereum ecosystem from decentralized finance (DeFi), stablecoins and non-fungible tokens (NFTs). MetaMask, which is a mobile app and browser extension, allows users to manage their own private keys without the need for a third party or custodian.

Investors in the round comprised traditional and crypto firms including investment firms Marshall Wace and Third Point, Singapore-based DeFi-focused venture fund DeFiance Capital, Hong Kong-based blockchain gaming unicorn Animoca Brands and HSBC.