Consensys to split into MetaMask and institutional blockchain units

Consensys Software Inc. has announced a major restructuring to split its operations into two independent companies by the end of 2026. The existing legal entity will rebrand as MetaMask, focusing on consumer-facing products and self-custody financial services. Joe Lubin, the Ethereum co-founder and Consensys founder, will serve as Chairman and CEO of MetaMask.

A newly formed company will retain the Consensys name, focusing on Ethereum protocols and institutional blockchain infrastructure. This new entity will house products such as Linea, Besu, and Teku. Mike Kriak will lead the new Consensys as CEO, with David Cunningham serving as president, while Lubin will act as executive chairman.

The split aims to allow each business to pursue distinct strategic priorities. MetaMask intends to expand beyond its role as a crypto wallet into a broader ‘Open Money’ platform, incorporating payments, savings, investing, and traditional financial products. The institutional arm will focus on helping financial organizations deploy blockchain technology for tokenization and stablecoins.

MetaMask has recorded over 100 million downloads across approximately 190 countries and has facilitated trillions of dollars in transaction volume. The company stated that the restructuring will not affect existing users, assets, or private keys.