- ConsenSys will separate into two independent companies by the end of 2026, splitting its consumer wallet business from institutional blockchain infrastructure.
- MetaMask will focus on consumer self-custody while expanding into payments, savings, investing, and traditional financial products.
- The new Consensys entity will house protocols like Linea, Besu, and Teku, targeting institutional tokenization, stablecoins, and onchain financial services.
- MetaMask has surpassed 100 million downloads globally and facilitated trillions of dollars in transaction volume.
Consensys Software Inc., the Ethereum company behind MetaMask, plans to split into two independent companies by the end of 2026, separating its consumer business from institutional blockchain operations, according to the announcement. Joe Lubin will serve as chairman and CEO of MetaMask and executive chairman of the new Consensys.
The new Consensys will focus on Ethereum infrastructure, including Linea, Besu, and Teku, and help financial institutions deploy blockchain for tokenization, stablecoins, and onchain services. Mike Kriak will lead as CEO, with David Cunningham as president. Meanwhile, MetaMask will remain centered on consumer self-custody while expanding into payments, savings, investing, and traditional financial products.
MetaMask has recorded more than 100 million downloads across roughly 190 countries and facilitated trillions in transaction volume, the company noted. The restructuring reflects increasingly different priorities for its consumer and institutional businesses, according to the firm.
Launched in 2016 as an Ethereum browser extension, MetaMask has expanded beyond crypto over the past year. In June, it launched Money Account, offering up to 4% variable APY on eligible mUSD stablecoin balances, with yield generated through DeFi lending strategies, as MetaMask explained.
In February, the company added access to 200 tokenized US stocks, ETFs, and commodities via Ondo Global Markets for eligible non-US users. Later that month, it rolled out its Mastercard-enabled spending card across 49 US states, expanding from earlier markets including Europe, Canada, and Latin America, MetaMask reported.
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