Consensys to split into MetaMask and institutional blockchain company

Consensys Software Inc., the Ethereum software company behind MetaMask, plans to split into two independent companies, separating its consumer business from its institutional blockchain infrastructure operations.

According to Wednesday’s announcement, the separation is expected to be completed by the end of 2026, with Joe Lubin serving as chairman and CEO of MetaMask and executive chairman of the new Consensys.

The new Consensys will house the company’s protocols and institutional infrastructure businesses, including Linea, Besu and Teku, and will be led by CEO Mike Kriak and President David Cunningham. The company will focus on Ethereum infrastructure and helping financial institutions deploy blockchain technology for tokenization, stablecoins and other onchain financial services.

MetaMask will remain focused on consumer self-custody while expanding beyond crypto into payments, savings, investing and traditional financial products.

Source: MetaMask

MetaMask has recorded more than 100 million downloads across roughly 190 countries and facilitated trillions of dollars in transaction volume, according to the company.

The company said the restructuring reflects increasingly different priorities for its consumer and institutional businesses.