Consensys Splits into Two Companies, MetaMask to Focus on Consumer Finance
Consensys, a blockchain company founded by Ethereum co-founder Joe Lubin in 2014, is splitting into two independent companies. The split will occur before the end of 2026 and will separate the MetaMask wallet from a new institutional Ethereum entity.
The new MetaMask company will be led by Lubin as chairman and CEO, while Mike Kriak and David Cunningham will lead the new Consensys entity. The institutional Consensys will focus on tokenized assets, which Citi estimates could reach between $5.5 trillion and $8.2 trillion by 2030.
MetaMask has surpassed 100 million downloads across 190 countries and processed trillions in cumulative transaction volume. The wallet's recent launch of the MetaMask Money Account is positioning it as a financial hub rather than just a wallet.
The restructuring resolves some uncertainty around Consensys' future, including its IPO plans, which were reportedly delayed due to soft market conditions.