Consensys Software Inc. is restructuring its operations into two independent companies: MetaMask, which will focus on consumer crypto wallet and financial services, and a new Consensys, dedicated to Ethereum protocols and institutional blockchain infrastructure. This strategic split was announced on Wednesday, September 9, 2026, and is anticipated to be finalized by the end of 2026.
MetaMask will operate as a standalone entity, rebranding the company’s consumer-facing business. Its mandate is to evolve beyond a crypto wallet into a comprehensive financial management platform. According to the announcement, MetaMask is recognized as the world’s most widely used self-custodial wallet, with over 100 million downloads globally and having facilitated trillions of dollars in cumulative transaction volume. Recent developments include the launch of its Money Account feature in June, expanded support for Bitcoin and Solana, and the 2025 introduction of its mUSD stablecoin on Ethereum and Linea.
The new Consensys entity will inherit the company’s focus on Ethereum protocols and institutional blockchain infrastructure. This division will be led by CEO Mike Kriak and President David Cunningham. Joe Lubin, a co-founder of Consensys, will assume the roles of chairman and CEO for MetaMask and serve as executive chairman for the new Consensys. The new Consensys is set to continue development on key protocols such as Linea, Besu, and Teku, aiming to provide blockchain infrastructure solutions tailored for financial institutions, including banks, asset managers, and payment providers.
While operating independently, both MetaMask and the new Consensys will continue to contribute to the same ecosystem, albeit with more specialized focuses. This separation is designed to allow each company to pursue distinct market opportunities with enhanced agility and dedicated resources, addressing both the evolving consumer finance landscape in crypto and the increasing demand for robust institutional blockchain infrastructure.
Why This Matters
The materials describe a narrow update: Consensys Software Inc. MetaMask is evolving from a crypto wallet into a comprehensive financial management platform.
Broader Context
Source materials place the factual news in this context: Consensys is one of several investors in Dastan, Decrypt’s parent company.
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