Consensys to split into MetaMask and institutional blockchain firm by end of 2026
The Ethereum company separating consumer wallet business from protocol infrastructure has announced a major corporate restructuring. The split is scheduled for completion before the year ends.
Consensys Software Inc., known for developing the MetaMask wallet, confirmed plans to divide into two separate entities. The separation will finish by the end of 2026. Joe Lubin will lead MetaMask as its chairman and chief executive officer. The new institutional entity, named Consensys, will focus on blockchain protocols and infrastructure for financial institutions. Its board includes Mike Kriak as CEO and David Cunningham as president. This unit manages core technologies like Linea, Besu, and Teku. These technologies support tokenization and stablecoin deployment within onchain finance systems. MetaMask retains its focus on consumer self-custody solutions while expanding into payments, savings, and traditional financial products. The restructuring decision stems from the growing divergence in strategy between consumer needs and institutional infrastructure requirements. MetaMask currently holds over 100 million downloads across approximately 190 countries. The wallet has processed transaction volumes totaling trillions of dollars worldwide since its launch in 2016.
