Consensys to split into MetaMask and institutional blockchain company

Split structure and leadership

On Wednesday, Consensys announced that the split will be finalized by the end of 2026. Joe Lubin will serve as chairman and CEO of MetaMask, and as executive chairman of the new Consensys. The new company will focus on institutional protocols and infrastructure including Linea, Besu, and Teku projects. It will be led by CEO Mike Kriak and President David Cunningham. The new Consensys will specialize in Ethereum infrastructure development and assisting financial institutions with blockchain deployments for tokenization, stablecoins, and other on-chain financial services.

MetaMask’s focus post-split

MetaMask will continue as a consumer product focused on self-custodial crypto wallets. Additionally, it plans to expand beyond crypto to include payments, savings, investing, and traditional financial products. MetaMask has been downloaded over 100 million times across roughly 190 countries, facilitating transaction volumes in the trillions of dollars.

MetaMask’s history and recent developments

MetaMask was launched in 2016 as a browser extension providing access to decentralized applications and crypto asset management on Ethereum. Over the past year, the company expanded its product range to include payments, yield generation, and tokenized traditional assets.

In June, MetaMask introduced Money Account, allowing users to earn up to 4% variable APY on eligible mUSD stablecoin balances, spendable via the MetaMask Card. The yield is generated through DeFi lending strategies rather than directly paid by MetaMask or the stablecoin issuer.

In February, MetaMask added access to 200 tokenized US stocks, ETFs, and commodities through Ondo Global Markets for eligible users outside the US. Later that month, the company rolled out its Mastercard-enabled spending card across 49 US states, expanding a product previously available in markets including Europe, Canada, Mexico, Brazil, and Argentina.