Consensys Software Inc. (CSI), founded by Ethereum co-founder Joe Lubin, has announced plans to split into two independent entities by the end of the year. As part of the restructuring, the current entity will rebrand to MetaMask, while a newly formed company will retain the Consensys name.
Restructuring and Leadership
The separation divides the firm's consumer and institutional operations. MetaMask will operate the company's flagship top crypto wallet and other consumer-facing products. Joe Lubin will serve as the Chairman and CEO of the MetaMask entity.
Meanwhile, CSI’s Protocols Group and institutional blockchain infrastructure business—including Linea and Ethereum infrastructure—will operate under the newly formed company retaining the Consensys name. In this entity, Mike Kriak will serve as CEO, David Cunningham as President, and Joe Lubin as Executive Chairman.
The reorganization arrives alongside earlier plans for an initial public offering (IPO), which was delayed to later in the fall at the earliest, partly due to bear market conditions, as well as the potential launch of the MASK token.
Strategic Focus for Digital Finance
Lubin stated that MetaMask has expanded into a broader platform for managing finances and assets alongside its role as a self-custodial wallet. The wallet launched a 'Money Account' earlier this year to allow users to trade, spend, and earn using a single balance.
The newly formed Consensys entity will continue focusing on advancing Ethereum and building applications and protocols for institutions at the app layer. David Cunningham noted that the division will support financial institutions and market infrastructure transitioning to tokenized operations.
