Consensys Software Inc. has announced plans to split into two independent companies, separating its consumer-facing business from its institutional blockchain infrastructure operations. The restructuring is expected to be completed by the end of 2026.
Under the leadership structure, Joe Lubin will serve as chairman and CEO of MetaMask while acting as executive chairman of the new Consensys entity.
New Consensys Focuses on Institutional Infrastructure
The newly formed Consensys company will manage protocols and institutional infrastructure businesses, including Linea, Besu, and Teku. Mike Kriak will take the role of CEO, and David Cunningham will serve as president.
This institutional branch will concentrate on Ethereum infrastructure and assist financial institutions in deploying blockchain technology for tokenization, stablecoins, and other onchain financial services.
MetaMask Expands Beyond Crypto Wallet Roots
Meanwhile, MetaMask will maintain its focus on consumer self-custody while expanding its offerings into payments, savings, investing, and traditional financial products.
Launched in 2016 as an Ethereum browser extension for managing crypto assets and accessing decentralized applications, MetaMask has recorded more than 100 million downloads across approximately 190 countries and facilitated trillions of dollars in transaction volume.
Recent expansions include:
- Money Account: Launched in June, allowing users to earn variable yields on eligible stablecoin balances and spend funds via the MetaMask Card.
- Tokenized Assets: Added access in February to 200 tokenized US stocks, ETFs, and commodities via Ondo Global Markets for eligible users outside the United States.
- Spending Cards: Rolled out a Mastercard-enabled spending card across 49 US states, expanding a product previously available in regions such as Europe, Canada, Mexico, Brazil, and Argentina.
According to the company, the restructuring reflects the increasingly divergent priorities of its consumer and institutional businesses.
