Consensys Splits MetaMask from Institutional Blockchain Unit

Consensys Software Inc., the company behind MetaMask, is planning to separate its consumer-oriented business from its institutional blockchain infrastructure operations. The separation is expected to be completed by the end of 2026, creating two independent companies with distinct leadership and strategic priorities.

The new Consensys entity will house the company's protocols and institutional infrastructure businesses, including Linea, Besu, and Teku. Meanwhile, MetaMask will remain the centerpiece of the consumer division, with an emphasis on self-custody and expansion into finance-adjacent services such as payments, savings, and investing.

Joe Lubin will serve as chairman and CEO of MetaMask, while also taking the role of executive chairman of the new Consensys. The institutional business, led by Mike Kriak as CEO, with David Cunningham as president, will focus on Ethereum infrastructure and supporting financial institutions looking to deploy blockchain technology for tokenization, stablecoins, and other onchain financial services.

MetaMask has surpassed 100 million downloads across about 190 countries and supported 'trillions of dollars' in transaction volume. The company's messaging suggests that the consumer operation will continue to evolve from a browser extension into a broader interface for onchain and finance-related experiences, including functionality connected to stablecoins and yield strategies.