Consensys splits MetaMask and institutional businesses into two companies

Consensys Software to Rebrand as MetaMask

Consensys Software Inc. is separating into two independently operated companies, drawing a clear line between its consumer-facing wallet business and its Ethereum protocol and institutional infrastructure operations. The split divides the consumer-facing MetaMask business from its Ethereum infrastructure and institutional businesses.

The existing company, Consensys Software Inc., will rebrand as MetaMask under Ethereum co-founder Joe Lubin (@ethereumJoseph) as chairman and CEO. The new MetaMask will focus on self-custodial consumer finance, expanding beyond its wallet roots into payments, savings and investing. MetaMask has more than 100 million downloads across roughly 190 countries and has facilitated trillions of dollars in cumulative transaction volume.

MetaMask confirmed that holdings, login credentials, and the app itself are not affected, and no migrations or actions are needed by users.

New Consensys to Focus on Institutional Infrastructure

The protocols group and institutional infrastructure business, including the Linea blockchain, will move into a newly formed company retaining the @Consensys name. The new Consensys will be led by CEO Mike Kriak (@mkriak) and President David Cunningham, with Lubin serving as executive chairman.

The company will develop Ethereum infrastructure and help financial institutions deploy blockchain systems for tokenized assets, stablecoins and settlement. The split reflects growing institutional demand for tokenization, stablecoins and blockchain infrastructure as financial firms move from pilots to production deployments. Supporting that view, a June 2026 Citi report cited by the company estimates tokenized assets could reach $5.5 trillion to $8.2 trillion by 2030.

The restructuring comes after Consensys pushed back a potential U.S. initial public offering (IPO) until this fall at the earliest, citing poor market conditions. The company had reportedly engaged JPMorgan and Goldman Sachs to lead the process. The company remained silent on its previously delayed IPO and did not clarify which new entity might go public. The full legal separation is expected to close by the end of 2026.

Sources:
The Block: Consensys splits MetaMask from institutional and Ethereum infrastructure businesses
CoinDesk: Consensys to split MetaMask into its own firm while staying silent on IPO
Decrypt: Consensys Is Splitting in Two as MetaMask Goes Its Own Way