Consensys Splits into Two Companies: MetaMask and Consensys
Consensys is set to split into two separate companies by the end of 2026, according to an announcement. One company will be MetaMask, a consumer self-custodial finance platform with over 100 million downloads across 190 countries and trillions of dollars in cumulative transaction volume. The other company, Consensys, will focus on Ethereum protocols and institutional infrastructure.
Joe Lubin, co-founder of Consensys, will take on the role of Chairman and Chief Executive Officer of MetaMask, while serving as Executive Chairman of Consensys. Mike Kriak will be CEO of Consensys, with David Cunningham as President.
The split marks a shift in focus for MetaMask, which has grown into a platform where users can manage their money across multiple forms and aspects. Lubin stated that consumer finance deserves the same level of focus and ambition as building Ethereum itself. The new company will prioritize everyday payments, with plans to issue its own token and create a DAO to fund growth.
Consensys, on the other hand, will continue to develop infrastructure for banks and market operators to move tokenized assets on-chain. Its Besu client already supports permissioned EVM networks in traditional finance, and the firm has set up the Linea Association to decentralize the Linea zkEVM network.
Citi's 'Tokenization 2030' report estimates that tokenized assets could reach $5.5 trillion to $8.2 trillion by 2030.