Consensys Software Inc. is dividing into MetaMask and a new Consensys by end-2026, separating its consumer wallet business from Ethereum protocol and institutional blockchain infrastructure.
Ethereum software company Consensys Software Inc. is splitting into two independently operated businesses, with the separation expected to be complete by the end of 2026.
The existing legal entity will rebrand as MetaMask and pursue a consumer finance strategy. A newly formed company will take the Consensys name and concentrate on Ethereum (ETH) protocol development and institutional blockchain infrastructure.
Co-founder Joe Lubin will serve as chairman and CEO of the new MetaMask company. Mike Kriak will lead the newly formed Consensys as CEO, with David Cunningham as president. Lubin will also serve as executive chairman of the new Consensys entity.
MetaMask Builds Toward a Neobanking Model
MetaMask has recorded more than 100 million downloads across roughly 190 countries. The company says it has processed trillions of dollars in cumulative transaction volume since launch. Over the past 12 months, its product direction has shifted well beyond crypto storage.
In early 2026, MetaMask launched a US Mastercard payment card that pays rewards in its mUSD stablecoin. In June 2026, the company introduced Money Account, a self-custody feature that lets users earn up to 4% APY on mUSD. The same balance can be used for spending through the MetaMask Card, trading, and prediction markets.
MetaMask added Bitcoin (BTC) support in December 2025, following an earlier Solana (SOL) integration. Users can now manage BTC alongside assets on Ethereum and other supported networks in one interface. MetaMask had previously launched its mUSD stablecoin on Ethereum and on Linea, Consensys' layer-2 network, in 2025.
Related Article: MetaMask Agent Wallet Lets AI Bots Trade DeFi Autonomously
Institutions Drive the New Consensys
The newly formed Consensys will develop and maintain Linea, a layer-2 Ethereum network being positioned for institutional capital. It will also continue work on Besu, an Ethereum execution client actively used by Citi, DTC, and BNY Mellon for permissioned blockchain deployments. Teku, an Ethereum consensus client, will also sit within the new Consensys.
Cunningham said financial institutions are moving toward always-on operations with tokenization at their core. He said the new company will provide the interoperability infrastructure required by large financial marketplaces. Consensys cited growing institutional demand for tokenization, stablecoins, and blockchain infrastructure as the primary reason behind the corporate reorganization.
Lubin told The Block in 2025 that a MASK governance token tied to the wallet's decentralization strategy was in development. The company did not confirm or deny plans for an initial public offering or token launch in connection with the Sept. 9 announcement, according to Fortune. Lubin described the split as a recognition that consumer finance and institutional infrastructure each require dedicated organizational focus.
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