Consensys Splits Into MetaMask and Institutional Blockchain Company

Consensys Software Inc., the Ethereum software company behind MetaMask, has announced plans to split into two independent companies, separating its consumer wallet business from its institutional blockchain infrastructure operations. The restructuring is expected to be completed by the end of 2026, according to a Wednesday announcement. Joe Lubin will serve as chairman and CEO of the standalone MetaMask entity while also taking on the role of executive chairman at the newly independent Consensys.

The new Consensys will house the company's protocols and institutional infrastructure businesses, including Linea, Besu, and Teku. It will be led by CEO Mike Kriak and President David Cunningham, focusing on Ethereum infrastructure and helping financial institutions deploy blockchain technology for tokenization, stablecoins, and other onchain financial services. Consensys said the split reflects increasingly divergent priorities between its consumer and institutional divisions.

MetaMask, which launched in 2016 as an Ethereum browser extension, has rapidly expanded beyond its crypto wallet roots. The platform has recorded more than 100 million downloads across roughly 190 countries and facilitated trillions of dollars in transaction volume. In June, MetaMask launched Money Account, offering up to 4% variable APY on eligible mUSD stablecoin balances alongside its MetaMask Card spending product. In February, the company added access to 200 tokenized US stocks, ETFs, and commodities through Ondo Global Markets for eligible users outside the United States, while expanding its Mastercard-enabled spending card to 49 US states.

As a standalone entity, MetaMask will continue building its consumer self-custody platform while pushing deeper into payments, savings, investing, and traditional financial products, positioning itself as a broader fintech gateway rather than solely a crypto wallet provider.