Consensys has announced plans to separate into two independent companies by the end of 2026, ending a single-company structure that has lasted over a decade.
MetaMask will operate as an independent entity focused on consumer self-custodial finance, while Consensys will maintain its Ethereum protocols and institutional infrastructure business. The wallet, which has surpassed 100 million downloads across approximately 190 countries, will become a platform for managing diverse financial assets and forms of money.
MetaMask's Consumer Finance Focus
MetaMask will operate as an Ethereum-first platform, building out a Money Account feature that combines automated earning, instant spending, and one-click trading in a single balance. The company has already launched its own dollar stablecoin, mUSD, issued through Stripe-owned Bridge, and offers a Mastercard-linked card as part of its expansion into everyday payments.
Joe Lubin, Consensys co-founder, will serve as Chief Executive Officer of MetaMask while acting as Executive Chairman of Consensys. Lubin confirmed that MetaMask will issue its own token, with a decentralized autonomous organization planned to fund the wallet's growth.
Consensys Institutional Infrastructure
The independent Consensys will retain the Protocols Group, including the Linea Layer-2 network, the Besu execution client, and Teku. The company will also continue its tokenization and stablecoin work for banks and asset managers.
Mike Kriak will serve as Chief Executive Officer of Consensys, with David Cunningham as President. Cunningham stated that financial institutions and market infrastructure are moving toward always-on operations with tokenization at the core, with Consensys positioned to provide the foundational open-source technology for this transition.
According to a Citi report cited in the announcement, tokenized assets could reach between $5.5 trillion and $8.2 trillion by 2030.
