Consensys is splitting its consumer wallet business from its institutional and Ethereum infrastructure operations, creating two independently operated companies as demand for blockchain technology expands across retail finance and global markets.
The company announced Wednesday that Consensys Software Inc. will be rebranded as MetaMask. Fo under Joe Lubin will serve as chairman and CEO of the standalone consumer business. The new company will focus on MetaMask and its broader push into self-custodial financial services.
The remaining protocols and institutional infrastructure operations will form a newly established company that will retain the Consensys name. Mike Kriak will become CEO, while David Cunningham will serve as president. Lubin will also remain involved as executive chairman.
Separate Strategies for Different Markets
The restructuring reflects the growing differences between consumer crypto adoption and institutional blockchain demand. MetaMask has expanded beyond its original role as an Ethereum wallet and now aims to become a broader financial platform for holding, spending, saving and investing.
MetaMask says its platform has recorded more than 100 million downloads across about 190 countries. The company is also expanding its financial services through its Money Account, which combines self-custody with features designed for everyday financial activity.
Mean while, Consensys will concentrate on institutional infrastructure and Ethereum protocol development. Its portfolio will include major technologies such as Linea, Besu and Teku.
The institutional business will target banks, asset managers, payment companies and other financial institutions adopting blockchain technology for tokenization, stablecoins and programmable settlement.
Institutional Blockchain Demand Drives New Focus
The split comes as financial institutions increasingly move blockchain projects from experimentation toward production. That shift has created demand for infrastructure that can support scale, privacy, resilience and regulatory requirements.
Consensys said the two businesses will operate independently, allowing each company to develop its own leadership structure, investment priorities and growth strategy. The separation is expected to be completed by the end of 2026.
The restructuring marks a significant change for one of Ethereum’s longest-running companies. MetaMask will pursue the consumer opportunity in self-custodial finance, while Consensys will focus on the infrastructure supporting the next phase of institutional adoption.
