Consensys Splits Off MetaMask as Standalone Entity

Consensys Software Inc., the company behind Ethereum's infrastructure backbone, has undergone a major corporate shake-up. The entity is spinning off MetaMask, its wildly popular self-custodial wallet, into a fully independent company. This move comes after nine years of development, during which time MetaMask evolved from a humble browser extension to a full consumer finance platform with swaps, staking, and savings features.

The 100 million monthly active user figure is notable, and the revenue generated from Ethereum ecosystem activities gives the newly independent company a solid business model. Consensys raised $450 million in its Series D funding round in 2022, achieving a valuation of $7 billion. However, plans for an initial public offering (IPO) have been pushed back to fall 2026 or later.

The departure of Dan Finlay, MetaMask's co-founder, in April 2026 after a decade-long tenure raises questions about succession and strategic direction. The new standalone MetaMask will need to prove it can maintain its product edge and cultural identity without one of the people who defined both.