Consensys Software Inc. announced plans to separate its consumer and institutional operations by the end of 2026. Under the reorganization, the existing company will rebrand and operate as MetaMask, while a newly formed entity will manage Ethereum protocols and institutional blockchain infrastructure.
MetaMask will be led by Consensys co-founder Joe Lubin, who will serve as chairman and chief executive officer. The newly formed Consensys will be led by CEO Mike Kriak and President David Cunningham, with Lubin serving as executive chairman.
The two companies will operate independently to separate MetaMask's consumer finance business from Consensys' institutional infrastructure. MetaMask currently reports more than 100 million downloads across approximately 190 countries and has facilitated trillions of dollars in cumulative transaction volume.
Over time, MetaMask has expanded beyond its initial Ethereum roots to include support for Solana and Bitcoin. The platform also introduced the Money Account feature in June, offering a self-custody option combining stablecoin yield, payments, and trading, alongside the 2025 launch of the mUSD stablecoin and a MetaMask debit card.
Meanwhile, the newly formed Consensys will continue developing the Linea layer-2 network, as well as the Besu execution client and Teku consensus client. This separate entity will concentrate on providing blockchain infrastructure for financial institutions, including banks, asset managers, and payment providers.
