Consensys Divides Into Two Distinct Entities as MetaMask Emerges

Overview

• Consensys Software Inc. will separate its consumer and institutional branches by the end of 2026.
• The consumer side will be renamed MetaMask, led by Joe Lubin as chairman and CEO.
• A new Consensys will manage Ethereum protocols and institutional infrastructure, including Linea.

Consensys Software Inc. is poised to split its operations into two distinct entities, with the consumer segment rebranded as MetaMask, a well-known cryptocurrency wallet. This restructuring was announced on Wednesday, with plans to finalize the separation by the end of 2026.

Joe Lubin, co-founder of Consensys, will assume the role of chairman and CEO of the newly named MetaMask. The new Consensys will be led by CEO Mike Kriak and President David Cunningham, while Lubin will also serve as executive chairman of this entity.

The bifurcation aims to clearly separate MetaMask’s consumer finance activities from the institutional blockchain infrastructure and Ethereum protocols managed by the new Consensys. Lubin expressed that MetaMask is evolving beyond a simple wallet, stating, "MetaMask has evolved into the world's leading self-custodial wallet, and it is now transitioning into something more significant." He emphasized the importance of consumer finance in the company's future endeavors.

Today marks the beginning of a new chapter for MetaMask as it becomes an independent entity.

— MetaMask 🦊 (@MetaMask) September 9, 2026

MetaMask has achieved over 100 million downloads globally and has processed trillions in transaction volume. Recently, it expanded its functionality by introducing Money Account, a feature that integrates stablecoin yield, payments, and trading into a single platform. The wallet now also supports Bitcoin alongside Ethereum and other assets, enhancing its appeal.

The new Consensys will focus on developing the Ethereum layer-2 network Linea, along with other blockchain solutions for financial institutions. Lubin noted that both companies will continue to innovate within the same ecosystem, catering to the distinct needs of their respective markets.