MetaMask to Become an Independent Company with Plans Beyond Its Wallet
Consensys will split into two independent companies, separating MetaMask from its Ethereum and enterprise infrastructure businesses.
According to the Ethereum-focused company’s restructuring plan, the current Consensys Software Inc. structure will operate under the name MetaMask. The new company will retain the Consensys brand and focus on Ethereum and enterprise blockchain infrastructure. The separation is expected to be completed by the end of 2026.
According to Consensys’s announcement, Joe Lubin will serve as chairman and CEO on the MetaMask side. Mike Kriak will take over as CEO of the new Consensys company, with David Cunningham serving as president. Lubin will continue in this structure as executive chairman.
MetaMask to Transform from Wallet into Consumer Finance Platform
In its new structure, MetaMask will not remain merely a wallet where assets are held. The company plans to expand into consumer finance by focusing on payments, savings, and investment products. It was announced that MetaMask has reached more than 100 million downloads across approximately 190 countries, with total transaction volume exceeding trillions of dollars.
The platform has already accelerated its expansion in this direction. MetaMask launched a payment card in the U.S. in collaboration with Mastercard. Its Money Account product, launched in June, allows users to earn up to 4% annual yield on their mUSD stablecoin balances and use that same balance for card payments as well as trading transactions.
Consensys to Focus on Enterprise Ethereum Infrastructure
The new Consensys company will house the Linea network and the Besu and Teku clients used in Ethereum infrastructure. The company’s goal will be to serve the tokenization, stablecoin, and blockchain infrastructure needs of financial institutions.
It was noted that Consensys’s Besu infrastructure is used by institutions such as Citi, DTC, and BNY Mellon. The company explained that enterprise demand has increased as financial institutions transition from the pilot phase to direct production use in blockchain projects, and that the split decision reflects this shift. No finalized plans regarding a potential MASK token for MetaMask or an IPO were shared in the new announcement.