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Consensys splits into MetaMask consumer unit and Consensys enterprise unit

MetaMask’s Money Account, launched June 30, offers automated yield, card spending and swaps, paying up to 4% on stablecoin balances.

Reported · Written up by our desk · Market Structure

Consensys Software Inc. is separating into two companies, with the existing corporate entity rebranding as MetaMask and the institutional blockchain infrastructure arm forming a new Consensys, the firm said Wednesday.

In the split, MetaMask will run the wallet and its consumer products under co-founder Joe Lubin as chairman and chief executive, while Consensys will focus on Protocols Group and institutional infrastructure including Linea and Ethereum clients. Mike Kriak will lead the new Consensys as chief executive, with David Cunningham as president and Declan Fox as chief product officer, while Lubin becomes executive chairman for the MetaMask-branded entity.

The restructuring separates Ethereum’s widely used wallet from one of its larger protocol development shops for the first time since Lubin founded the company in 2014. The company said completion is expected by the end of 2026, and users need to take no action.

MetaMask will keep the Money Account, a self-custodial product that combines automated yield, card spending and swaps, launched June 30 and paying up to 4% on stablecoin balances. The company said the wallet has passed 100 million downloads across roughly 190 countries, while Linea is reported to hold $29 million in DeFi deposits versus $38.1 million in stablecoins issued, according to DefiLlama data.

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