Consensys Software Inc. has announced a split into two independent companies. The existing corporate structure will be renamed MetaMask and will focus on the consumer business, while a new company under the Consensys brand will manage Ethereum protocols and infrastructure for financial institutions. The split is expected to be completed by the end of 2026. Joe Lubin, founder of Consensys, will serve as Chairman and CEO of MetaMask, as well as Executive Chairman of the new Consensys.
MetaMask, launched in 2016 as a browser extension for interacting with Ethereum and managing crypto assets, has significantly expanded its functionality over the past year. In February, the app gained access to 200 tokenized US stocks, exchange-traded funds, and commodities through the Ondo Global Markets platform. The Mastercard card also began rolling out across 49 US states through the same platform. To date, the wallet has been downloaded more than 100 million times in 190 countries, with trillions of dollars transacted through it. The company will manage Ethereum protocols and infrastructure, including the layer-2 network Linea, the execution client Besu, and the consensus client Teku. The split reflects the growing divergence in priorities between the consumer and enterprise segments of the business. As Lubin stated, it is "a recognition that consumer finance deserves the same focus and ambition we put into building Ethereum itself." The split will allow each company to concentrate on its own direction: MetaMask on building a full-fledged alternative to bank accounts within the crypto ecosystem, and Consensys on infrastructure for institutional blockchain operations.
The wallet now offers money management services in a wide variety of forms: from earning yield on stablecoins to card payments and investments in traditional assets. In June, the company launched Money Account, allowing users to earn up to 4% variable annual interest on mUSD stablecoin balances and make payments via the MetaMask card. In December, MetaMask added Bitcoin support, complementing its existing Solana support. The new Consensys will be led by Mike Kriak (CEO) and David Cunningham (President), with Declan Fox serving as Head of Product. Its core mission – is to help financial institutions and payment service providers deploy blockchain technologies for asset tokenization, stablecoin issuance, and other financial services. According to a Citi report from June 2026, the volume of tokenized assets could reach between $5.5 trillion and $8.2 trillion by 2030.