MetaMask Breaks Free from Consensys as Ethereum Wallet Targets Open Money

Consensys Software Inc. has announced its intention to split into two separate companies, one focused on consumer platforms and the other on institutional infrastructure. The move marks a significant shift for Consensys, which will now have a dedicated entity for its flagship product, MetaMask.

MetaMask, a popular cryptocurrency wallet with over 100 million downloads worldwide, is set to become an independent company. As part of this separation, Joe Lubin, co-founder of Ethereum, has taken on the role of Executive Chairman of MetaMask. The new entity will prioritize self-custody, payments, trading, and other financial services.

The separation is expected to be completed by the end of 2026, and users will not need to make any changes to their existing apps or assets. MetaMask has stated that it aims to build an 'Open Money' platform, allowing users to hold, spend, save, and grow digital assets while retaining control over them.