The restructuring will be carried out to separate MetaMask’s consumer-focused business from Consensys’ Ethereum protocol development and institutional blockchain infrastructure operations.
Consensys Software Inc., the Ethereum-focused software firm behind MetaMask, is planning to divide into two separate companies, with its consumer business being separated from its institutional blockchain infrastructure operations.
According to Wednesday’s announcement, the split is expected to be finalized by the end of 2026, with Joe Lubin taking the roles of chairman and CEO at MetaMask and executive chairman of the newly formed Consensys.
The new Consensys will house the company’s protocols and institutional infrastructure businesses, including Linea, Besu and Teku, and will be led by CEO Mike Kriak and President David Cunningham. The company will focus on Ethereum infrastructure and helping financial institutions deploy blockchain technology for tokenization, stablecoins and other onchain financial services.
MetaMask will continue prioritizing consumer self-custody while broadening its services beyond crypto to include payments, savings, investment options and traditional financial products.
According to the company, MetaMask has surpassed 100 million downloads in approximately 190 countries and has supported trillions of dollars in transaction volume.
The company said the restructuring was driven by the increasingly distinct priorities of its consumer and institutional divisions.
MetaMask’s Evolution Beyond a Traditional Crypto Wallet
MetaMask, launched in 2016 as an Ethereum browser extension for accessing decentralized applications and managing digital assets, has moved beyond its original purpose over the past year by introducing products covering payments, yield services and tokenized traditional assets.
In June, MetaMask introduced its Money Account, enabling users to earn up to 4% variable APY on eligible mUSD stablecoin holdings while allowing the funds to be spent through the MetaMask Card. The returns come from DeFi lending strategies rather than interest payments made by MetaMask or the stablecoin issuer.
In February, the company expanded its offerings by giving eligible users outside the United States access to 200 tokenized US stocks, exchange-traded funds and commodities through Ondo Global Markets.
Later that month, its Mastercard-powered spending card was introduced across 49 US states, extending a service that had previously been offered in regions such as Europe, Canada, Mexico, Brazil and Argentina.
