Consensys Software announced on Wednesday (9) that it will split its operations into two independent companies, separating MetaMask from the infrastructure and protocol businesses tied to Ethereum. The current company will be renamed MetaMask and will be led by Joe Lubin as chairman and CEO.
The reorganization creates distinct structures for consumer-facing and institutional businesses. Although the two operations already function independently, the formal completion of the separation is expected by the end of 2026.
MetaMask will be focused on self-custody financial products for consumers. The platform, originally known primarily as a cryptocurrency wallet, has more than 100 million downloads in around 190 countries and has already facilitated trillions of dollars in cumulative transaction volume, according to the company.
For current users, the corporate change requires no action. The company reported that the app, assets, private keys, and account access remain unchanged.
Consensys retains Ethereum infrastructure and protocols
The protocols group and the blockchain infrastructure business for institutions will be transferred to a new company that will retain the name Consensys. The structure will include the Linea network and Ethereum ecosystem infrastructure projects, such as Besu and Teku.
The new Consensys will be led by Mike Kriak as CEO and David Cunningham as president. Lubin will remain tied to the company as executive chairman, while at the same time taking direct leadership of MetaMask.
According to the company, the separation will allow each operation to have its own leadership, investments, and strategies. MetaMask intends to expand its operations in financial services for consumers, while Consensys will remain focused on Ethereum protocols and blockchain infrastructure for banks, asset managers, and other financial institutions.
