TLDR
- Consensys is splitting into two separate companies by end of 2026
- The existing Consensys entity will rebrand as MetaMask, led by Joe Lubin as chairman and CEO
- A new Consensys will focus on Ethereum infrastructure and institutional blockchain services
- MetaMask has surpassed 100 million downloads across roughly 190 countries
- The restructuring comes as Consensys had previously delayed a potential IPO due to poor market conditions
Ethereum software firm Consensys is breaking itself into two independent companies before the end of 2026. The split will separate its consumer-facing MetaMask wallet from its institutional blockchain infrastructure operations.
Today, MetaMask begins its next chapter as an independent company.
Consensys Software Inc., the company behind MetaMask, is rebranding as MetaMask, fully focused on the consumer platform. The protocols and institutional infrastructure businesses, including Linea, are becoming a…
— MetaMask 🦊 (@MetaMask) September 9, 2026
The existing legal entity, Consensys Software Inc., will rebrand as MetaMask. Ethereum co-founder Joe Lubin will serve as chairman and CEO of the MetaMask company.
A newly formed company will take on the Consensys name. It will be led by CEO Mike Kriak and President David Cunningham, with Lubin also serving as executive chairman there.
What the New Consensys Will Do
The new Consensys will bring together the teams behind Linea, Besu and Teku. These are all tools and networks tied to Ethereum’s infrastructure.
Its focus will be on helping banks, asset managers and other financial institutions use blockchain technology. That includes services around tokenization, stablecoins and onchain settlement.
The company said the two businesses now have different enough priorities that operating separately makes more sense.
MetaMask’s Expanding Role
MetaMask launched in 2016 as a browser extension for managing crypto assets. It has since grown into a broader financial tool.
The wallet has been downloaded more than 100 million times across around 190 countries. It has also processed trillions of dollars in transaction volume, according to the company.
In June, MetaMask launched a product called Money Account. It lets users earn up to 4% variable APY on balances held in its mUSD stablecoin, through DeFi lending strategies.
Users can also spend those funds through the MetaMask Card, a Mastercard-enabled card now available across 49 US states, as well as parts of Europe, Canada and Latin America.
In February, MetaMask added access to 200 tokenized US stocks, exchange-traded funds and commodities through a partnership with Ondo Global Markets. This is available to eligible users outside the United States.
Going forward, MetaMask says it will keep expanding into payments, savings, investing and traditional financial products.
The restructuring follows a delayed IPO plan. Consensys had reportedly engaged JPMorgan and Goldman Sachs to lead a potential US listing but pushed it back to at least this fall due to poor market conditions.
The company has not confirmed whether the IPO timeline still stands or which of the two new entities would pursue a listing.
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