MetaMask Becomes Standalone Company as Consensys Splits

 

Consensys Software Inc. (CSI) has announced plans to split into two independent companies, each with a separate focus and leadership team.

 

Announcing the split in a press release published on the MetaMask blog, Consensys Software Inc. said it will be rebranded as MetaMask, with Joe Lubin serving as Chairman and Chief Executive Officer.

 

The second company, which will retain the Consensys name, will be a newly formed entity comprising CSI’s Protocols Group and institutional blockchain infrastructure business, including Linea and its broader portfolio of enterprise and Ethereum protocol infrastructure. Mike Kriak will serve as CEO, David Cunningham as President, and Joe Lubin as Executive Chairman.

 

Speaking about what both companies are expected to become, Joe Lubin, Chairman and CEO of MetaMask and Executive Chairman of Consensys, said MetaMask will grow beyond being just a self-custodial wallet and become a platform where users can not only hold their assets but also manage their money in diverse forms and across different aspects of their financial lives.

 

As for the new Consensys entity, Lubin said the company will continue to operate as a protocols company, with the newly formed team bringing Ethereum, Hyperledger Besu, and Linea protocol development together to enable enterprises and institutions to collaborate more effectively.

 

What Comes Next for Both Companies

 

MetaMask will continue to be an Ethereum first product company, providing self-custody services that allow users to hold and manage their assets on the platform.

 

The team will also continue working on its Open Money platform, which represents the company’s vision of transforming the wallet into a platform where users can hold, move, spend, save, invest, and grow their money in one place. As a step toward this goal, the team launched the MetaMask Money Account in June, enabling users to gain greater control over their finances.

 

Consensys will continue playing a key role in advancing Ethereum and other Ethereum related protocols, including the development of decentralized applications and protocols on the Ethereum blockchain network.

 

The team will also expand its work helping financial institutions and enterprises deploy blockchain infrastructure, including helping institutions such as banks, asset managers, payment providers, and market infrastructure firms access tokenized financial markets and stablecoins.