Methyl‐coenzyme M reductase (MCR) is the key enzyme of methanogenesis and the anaerobic oxidation of methane (AOM). MCR catalyzes the reversible conversion of methyl‐coenzyme M (MeS‐CoM) and coenzyme B (CoB‐SH) to the mixed heterodisulfide, CoB‐S‐S‐CoM, and methane. The methane forming and oxidizing activities of MCR are dependent on the unique, nickel‐containing tetrapyrrole, coenzyme F430. In addition to housing F430, the active site regions of MCR from both methanogens and anaerobic methanotrophic archaea (ANME) contain several unusual posttranslational modifications (PTMs). Given the unique ability of MCR to catalyze the AOM, there is much interest in the mechanism and formation of
holo
MCR for potential applications in gas‐to‐liquid (GTL) conversion strategies (see
Methane‐to‐Methanol Conversion
). This chapter details current progress in the understanding of coenzyme F430 biosynthesis, the maturation of MCR, and differences in structural features of methanogenic and methanotrophic MCR that may be important for the AOM.