Consensys to split MetaMask from institutional blockchain arm
Consensys will split into two companies, separating MetaMask’s consumer wallet from a new institutional firm focused on Ethereum infrastructure, to finish by end of 2026.
Consensys Software Inc. announced plans to separate its consumer and institutional businesses into two independent companies, with the reorganization scheduled for completion by the end of 2026.
MetaMask will remain the consumer-facing company. Joe Lubin will serve as MetaMask’s chairman and CEO while also taking the role of executive chairman at the newly formed institutional Consensys. The institutional company will be led by CEO Mike Kriak and President David Cunningham.
The institutional firm will combine the company’s protocol and infrastructure offerings, including the Linea scaling solution and the Besu and Teku Ethereum client implementations. The company plans to market these products to banks, asset managers, exchanges and other institutional users to support tokenization, stablecoins and other onchain financial services.
MetaMask will continue to focus on self-custody wallets for individual users while expanding into payments, savings and investing products. The wallet has recorded more than 100 million downloads across about 190 countries and has processed transaction volumes the company describes as in the trillions of dollars.
Over the past year MetaMask added a Money Account that offers up to 4% variable APY on eligible stablecoin balances through decentralized finance lending strategies, launched a Mastercard-enabled spending card across 49 US states, and provided access to around 200 tokenized US stocks, ETFs and commodities for eligible non-US users via a partnership with Ondo Global Markets.
The company described the separation as a response to differing priorities between its consumer and institutional businesses. The split will be carried out over the next 18 months; during the transition Joe Lubin will lead MetaMask and provide strategic guidance to the institutional company as executive chairman.
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