MetaMask Breaks Free as Consensys Splits into Consumer and Institutional Firms
Consensys Software Inc. is splitting into two independent companies, separating MetaMask from its institutional blockchain operations.
Under the restructuring, Consensys Software will rebrand as MetaMask and focus on consumer finance products. Joe Lubin will serve as chairman and CEO of the new business.
MetaMask has expanded far beyond its original self-custodial wallet model to cover payments, savings, trading, and investing services. The company reports over 100 million downloads across about 190 countries, with users generating trillions of dollars in cumulative transaction volume.
The MetaMask team introduced a U.S. Mastercard payment card earlier this year that rewards customers with the mUSD stablecoin. They also launched their Money Account in June, which allows customers to earn up to 4% APY on mUSD balances and supports card spending, trading, perps, and prediction markets.
A separate company will retain the Consensys name and focus on institutional blockchain infrastructure, with Mike Kriak becoming CEO and David Cunningham serving as president. Lubin will remain involved with the new Consensys as executive chairman.