Consensys Software Inc. Splits into MetaMask and New Consensys Entity
Company split announced
Consensys Software Inc., the firm that created the MetaMask wallet, said it will divide into two independent companies. The existing entity will keep the wallet and rename itself MetaMask, while a new company will retain the Consensys name and hold the protocol and institutional infrastructure business.
Key points
- The split will be completed by the end of 2026.
- Joe Lubin will serve as chairman and chief executive of the MetaMask company.
- Mike Kriak will become chief executive of the new Consensys company.
- The consumer side will continue the MetaMask wallet and its Money Account product.
- The enterprise side will include the Linea layer‑2 network, the Besu execution client, the Teku consensus client and other tokenization infrastructure.
Leadership and structure
Joe Lubin, co‑founder of Consensys, will be executive chairman of MetaMask. Mike Kriak will lead the new Consensys firm as chief executive, with David Cunningham as president and Declan Fox as chief product officer. Each company will have its own board and capital allocation.
Consumer wallet and Money Account
The MetaMask brand will continue to run the wallet, a software application that stores private keys for users to manage crypto assets. The wallet has been downloaded over 100 million times in about 190 countries. MetaMask will also keep the Money Account, a self‑custodial product that lets users earn yield on stablecoins, spend with a debit card, and swap tokens.
Enterprise business and tokenization
The new Consensys company will focus on institutional blockchain infrastructure, including the Linea layer‑2 network, the Besu Ethereum execution client used by permissioned enterprise networks, and the Teku consensus client. A June 2026 Citi report cited by the company estimates tokenized assets could reach $5.5 trillion to $8.2 trillion by 2030. Linea currently holds $29 million in DeFi deposits and $38.1 million in stablecoins.
Unclear token and IPO plans
The announcement does not mention a MetaMask token, despite earlier comments that a MASK token might be introduced. It also does not specify which of the two entities will continue the initial public offering process that was reported in October 2025.
Impact on users
Current MetaMask users do not need to take any action. The split will not affect the functionality of the wallet or the Money Account.
Next steps
The two companies will operate separately once the separation is finished, which is expected by the end of 2026.
