The existing legal entity will continue under the MetaMask name, with Ethereum co-founder Joe Lubin serving as chairman and chief executive. Its protocols group and institutional infrastructure operations will move into a newly formed company that will retain the Consensys name.
The separation is expected to be completed by the end of 2026. Mike Kriak will become chief executive of the new Consensys, David Cunningham will serve as president, and Lubin will be its executive chairman.
The restructuring gives MetaMask a corporate identity centred solely on consumer products after a decade of development inside Consensys. MetaMask said users would see no immediate change to the application, assets, private keys or access, and would not need to take any action because of the reorganisation.
Consensys did not provide a timetable for an initial public offering or indicate whether either of the two companies could pursue a listing. A company spokesperson declined to give specific details on possible capital-markets plans, saying the group does not comment on market speculation or potential future activity of that kind.
That silence leaves unresolved questions surrounding a possible flotation after Consensys had previously explored a US listing. The newly announced structure, however, formally separates businesses with different customers, revenue opportunities and investment needs, potentially giving each greater strategic flexibility without committing either to a public-market transaction.
Lubin said the split reflected the growing maturity of both consumer self-custody and institutional blockchain markets. He will take direct control of MetaMask, which is being positioned beyond its origins as a cryptocurrency wallet towards a broader platform for holding, spending, saving and investing across digital and traditional financial assets.
MetaMask says the platform has recorded more than 100 million downloads across about 190 countries and has facilitated trillions of dollars in cumulative transaction volume. The company is seeking to build on that scale by expanding the range of financial services available through its self-custodial model.
One element of that push is MetaMask Money Account, which combines automated earning, spending and one-click trading within a single self-custodial balance. MetaMask describes the product as an early step in its move towards everyday financial services rather than limiting the platform to wallet functions and token transactions.
The company will remain Ethereum-first while supporting other blockchain networks and broadening access to financial instruments associated with traditional markets. MetaMask also said its developer tools, application programming interfaces and software development kits would continue without disruption following the corporate change.
The newly created Consensys will concentrate on Ethereum-related protocols and infrastructure used by financial institutions and enterprises. Its operations will include Linea, the Ethereum Layer 2 network, as well as Besu and Teku, software used within the Ethereum ecosystem and in institutional blockchain deployments.
The institutional opportunity cited by Consensys includes the expansion of tokenised financial assets. A June 2026 Citi assessment estimated that tokenised assets could reach between $5.5 trillion and $8.2 trillion by 2030, underscoring why the company wants a separate structure for enterprise infrastructure and protocol development at scale.
Consensys said banks, asset managers, payment companies and market infrastructure providers are increasingly moving blockchain projects from trials into production, particularly in tokenisation, stablecoins and programmable settlement. The company intends to focus its investment and management structure on those institutional requirements.
Cunningham said financial institutions were moving towards always-on operations in which tokenisation plays a central role, arguing that interoperability, privacy, resilience and scale would be important requirements as more established financial markets adopt blockchain-based systems.
The restructuring also clarifies how Lubin will divide his responsibilities. He will run MetaMask as chairman and chief executive while holding an executive-chairman role at Consensys, leaving day-to-day leadership of the institutional business to Kriak and Cunningham.
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