Consensys Splits into Metamask and Consensys Amid Blockchain Infrastructure Demand

Consensys Software Inc, the company behind Metamask, is splitting into two separate entities. The existing corporation will be renamed to Metamask and focus on consumer financial services, while a new company, Consensys, will handle institutional blockchain infrastructure projects.

The decision comes as the demand for blockchain by financial institutions has shifted from experimentation to commercialization. Tokenized assets are expected to reach between $5.5 trillion and $8.2 trillion in 2030, according to a report released by Citi.

Metamask aims to move beyond its traditional virtual asset wallet function and become an 'Open Money' platform providing payments, savings, investments, and virtual assets in one place. The company has already launched its 'Money Account' feature, which allows users to make transactions, remittances, and payments while earning stablecoin-based profits.