Consensys Splits into Two: MetaMask Goes Independent, New Firm Focuses on Institutional Blockchain
Consensys Software Inc., the company behind MetaMask, is splitting its consumer and institutional businesses by the end of 2026. The existing company will rebrand as MetaMask, with Joe Lubin serving as chairman and CEO. A newly formed Consensys will take over the firm's Ethereum protocol and institutional infrastructure operations.
The split aims to focus on the distinct needs of each market, according to Lubin. 'MetaMask grew out of that work into the world's most widely used self-custodial wallet, and today it's becoming something larger: a platform where people don't just hold their assets, but manage their money in its many diverse forms and aspects,' he said.
MetaMask boasts over 100 million downloads across roughly 190 countries and has facilitated trillions of dollars in cumulative transaction volume. The wallet has expanded beyond storing and trading crypto, with the launch of Money Account, a self-custody feature combining stablecoin yield, payments, and trading in a single balance.
The newly formed Consensys will continue developing Linea, an Ethereum layer-2 network, along with Besu and Teku, used for permissioned blockchain networks. The company will focus on blockchain infrastructure for banks, asset managers, payment providers, and other financial institutions.