Metamask Breaks Free From Consensys Amid 2027 IPO Buzz

Consensys Software Inc., valued at $7 billion after its $450 million Series D funding round in March 2022, announced a plan to split into two independent companies. Metamask, a consumer wallet platform, will break away from Consensys, which will remain focused on protocols and institutional infrastructure. Joe Lubin, who will take the helm of Metamask in 2026, said that the company spent more than a decade building the foundations of the Ethereum ecosystem.

According to Lubin, Metamask emerged as one of 'the world's most widely used self-custodial wallets' from those efforts. He believes consumer finance deserves the same focus and ambition Consensys brought to building Ethereum. The new Consensys will remain focused on protocols, with its expertise moving up the stack to help institutions operate in an increasingly 'always-on, onchain world.'

Speculators assume that the spin-off plan will pave the way for an initial public offering (IPO) on the U.S. stock market as early as 2027. Consensys had reportedly hired JPMorgan and Goldman Sachs to prepare for a potential public listing, but postponed IPO plans.